Question: Demand: Quantity 1 2 3 4 5 6 7 8 9 10 Price 10 9 8 7 6 5 4 3 2 1 Marginal Revenue

Demand:

Quantity

1

2

3

4

5

6

7

8

9

10

Price

10

9

8

7

6

5

4

3

2

1

Marginal

Revenue

10

8

6

4

2

0

-2

-4

-6

-8

Costs:

Marginal

Cost

9

6

5

3

2

3

4

5

7

10

Average

Cost

9

7.5

6.7

5.8

5

4.7

4.6

4.6

4.9

5.4

1. The table above shows the information for a monopol business. what are the price and the quantity that maximize this business's profit? Show your work.

2. Please show the profit-maximizing P and Q by drawing a graph.


Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
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!

Q:

Required: Use the graphical illustration to answer the following questions: (if required, use the discreet number of barrels) Natural-Organic Oil 550 500 450 g 350 300 Amount in '00 250 200 150 100...

Q:

Hi, can someone help me to solve this problem based on the information below Assuming Tottenham Hotspur, plc. continues in their current stadium following their current player strategy. a. Perform a...

Q:

Consider a firm with the following cost schedule as well as a fixed cost of 32 which is sunk in the short run. Quantity: 1, 2, 3, 4, 5, 6, 7, 8, 9, 10 Total Value Cost:20, 30, 36, 44, 54, 66, 80,96,...

Q:

Optimization: Marginal Analysis-Quantity Determination, Profit Maximization Given the following information, please state your suggestions: Price 76 73 68 64 62 59 56 53 51 49 47 45 43 Quantity 1 2 3...

Q:

ABC Company is a manufacturer of plastics. The company has a single manufacturing facility in Utica, New York and distributes its products through five regional warehouses located in Atlanta, Boston,...

Q:

Come Insert Draw Design Layout Arial V 12 A A Aa Po G Paste ADA B I Uab x, x Answer the following questions. 1) What are the two functions of financial accounting? 2) List and describe the 3 forms of...

Q:

Amiba Private limited produce 10 products in their production plant. The company's research and development (R& D) department wants to estimate a price for their 11 th product. Hence, R & D...

Q:

XYZ Company is a manufacturer of construction equipment. The company has a single manufacturing facility in Seattle, Washington. XYZ Company distributes its products through four regional warehouses...

Q:

A utility company needs to meet an hourly demand for electricity (in MWh) over each day. It can generate power from oil, coal, nuclear and hydro-electric sources. Cost per MWh for oil, coal and...

Q:

XYZ Company is a manufacturer of construction equipment. The company has a single manufacturing facility in Seattle, Washington. XYZ Company distributes its products through four regional warehouses...

Q:

What is the difference between a penetration pricing strategy and a price lining strategy? Under what circumstances would each be used?

Q:

Construct an analytic function of the form f (z) = u + iv, where v is tan- (y/x), x + 0, y = 0

Q:

Which of the following choices best describes reasonable conclusions that theanalyst might make about the two companies' ability to pay their current and longterm obligations? a . Company A ' s...

Q:

Skills necessary for success in marketing include Multiple select question. analytical thinking advertising industry experience infallibility ability to work with others

Q:

b. A workshop on stress management sponsored by the company

Q:

1. Determine what circumstances are causing the most stress in your life. For example, are you trying to work too many hours while going to school? Are you experiencing parental or peer pressure? Do...

Q:

b. Are there any aspects of the situation that are out of your control? Explain.