Question: a) Complete the following table: $40 $35 $30 $25 $20 $15 $10 $5 3 4 5 6 7 8 Price Quantity Demanded 1 2

a) Complete the following table: Price Qu Total revenue Marginal Revenue y Demanded $40 25 $30 S2 20 SİS sio 8 b) If marginal cost is constant at S30, what is the profit-maximizing output? cWhat price should be charged at that output? d) If this firm has no fixed costs, what is the profit at this output?

a) Complete the following table: $40 $35 $30 $25 $20 $15 $10 $5 3 4 5 6 7 8 Price Quantity Demanded 1 2 Total revenue Marginal Revenue b) If marginal cost is constant at $30, what is the profit-maximizing output? c) What price should be charged at that output? d) If this firm has no fixed costs, what is the profit at this output?

Step by Step Solution

★★★★★

3.40 Rating (156 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock

92 b Rurice 40 35 30 25 20 ve ve 15 10 TR MR MC Q 1 2 we know ... View full answer

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

In the figure below, MB1 is the marginal benefit that town 1 gets from abatement; MB2 is the marginal benefit for town 2. MC, A is the marginal cost of abatement for source A, and MC, B is the...

1. Identify the following information about the costs in the bill of materials, labor routing, manufacturing overhead and the selling and general administrative expense schedules (appendices A-1...

A profit maximizing monopolist has no fixed costs and has constant marginal cost = $4. The demand facing the monopolist is given by P = 52 - 2Q. If the monopolist produces the profit maximizing...

Complete the following table by indicating for (a) through (g) whether the proper answer is debit orcredit. Normal Balance Account Increase Decrease Purchases Purchases Discounts Purchases Returns...

Using the graph below, complete the requirements. Required: 1. Determine the following: a. The break-even point in sales dollars and volume b. The sales price per unit c. Total fixed costs d. Total...

The graph with Problem 23 shows speedometer readings as a car skids to a stop on a straight roadway. What is the magnitude of the acceleration at t = 7.0 s? Sketch a graph of a x (t). What is the...

Using the following graph, complete the requirements. 1. Determine the following: a. The break-even point in sales dollars and volume. b. The sales price per unit. c. Total fixed costs. d. Total...

13. The current on-the-run yields for theKathyCorporation are as follows: Maturity (years) Yield to Maturity (%) Market Value 1 7.5 100 2 8 100 3 8.5 100 Assume that each bond is an annual-pay bond....

please answer all and show steps! thank you so much :) 1. (4 points) Use the graph of y = f(x) below to evaluate the following. lim f(x) = lim f (x) = lim f (x) = f ( 6) = x- 6+ 45 -40 35 -30- 25 20-...

The market shown in Figure 6P-5 is in equilibrium. Suppose there is a $15 per unit tax levied on sellers. a. Draw the after-tax supply curve. b. Plot the after-tax price paid by consumers and the...

Deaths by legal intervention refers to injuries inflicted by law-enforcement agents in the course of arresting or attempting to arrest lawbreakers, suppressing disturbances, maintaining order, and...

A black body is at a temperature of 5760 K. The energy of radiation emitted by the body at wavelength 250 nm is U, at wavelength 500 nm is U, and that at 1000 nm is U. Wien's constant, b = 2.88 10...

PART 1 Dr. Jacobs West is an investment manager for Prokop Investments. He is currently faced with the question of which company to invest in. There are five potential investment companies located...

7.33 The voltage across a 10-mH inductor is 15 ( t 2)mV. Find the inductor current, assuming the inductor is initially uncharged.

1. "Freedom Summer" was a bold experiment. Discuss three challenges. Would you have participated? 2. How was desegregation thwarted in Mississippi?

Larry's tax basis in his partnership interest at the beginning of the year was $27,500. If his share of the partnership debt increased by $13,000 during the year and his share of partnership income...

A pool 80 feet long, 50 feet wide, and 6 feet 8 inches deep is filled with three pipes namely: Pipe # 1 is 3 inches in diameter while pipes # 2 and # 3 are 2 inches diameter each. Through pipe # 1 a...

If the US interest rate is close to zero, while the interest rate of Russia is very high, what would interest rate parity suggest about the forward rate of the Russian ruble? Explain.

Some high-end retailers place their most expensive products right in the entryway of the store, where consumers will see them first, and place their more popular, better-selling items further back....

match them correctly Drag or select items to place them in their proper containers and select submit. Social Media (e.g. Traditional Media (e.g. Facebook, Twitter) Television, Print) Hannah Poynter...

Consider the effect of reputation and say whether you are likely to be treated better in scenario a or scenario b. a. You are purchasing your car from an individual who advertised it on craigslist....

Graph the equation P = 2Q + 3. Is this the supply curve or demand curve?

A consumer is buying steaks for $4 each potatoes for $1 per pound. She has $40. Plot her budget constraint on Figure EP-3 and find her optimal consumption bundle.

A friend of yours is in the market for a new computer. Four different machines are under consideration. The four computers are essentially the same, but they vary in price and reliability. The least...

Most people are learning constantly about themselves and their environment. Our tastes develop and change as our environment changes. As new technologies arise, new risks are discovered. What are the...

Continuing Problem 16.13, the computers are described as follows: A. Price: $998.95 Expected number of days in the shop per year: 4 B. Price: $1,300.00 Expected number of days in the shop per year: 2...