Yaster Inc. is trying to enter the thingamabob market. The research department established the following price-demand, cost, and revenue functions: Price- |p(x) = 57 – 1.14x demand function |C(x) = 215 + 11x Cost function Revenue |R(x) = xp(x) = x(57 – 1.14x) function where x is in thousands of thingamabobs and C(x) and R(x) are in thousands of dollars. The price p(x) is the price in dollars of one thingamabob when the demand is a thousand thingamabobs. All three functions have domain 1≤ x ≤ 50.
Q: Considering Healthcare price elasticity, would it be a good idea to implement a price increase on…
A: The prevention, diagnosis, care, alleviation, or prevention of diseases, sickness, injury, and other…
Q: ng graph shows the monthly demand and supply curves in the market for teapots. the the graph input…
A: A market is said to be in a condition of equilibrium when supply and demand are in a condition of…
Q: If a country that fixes its exchange rate increases its money supply, then its currency will become…
A: In the fixed exchange rate system, any change in money supply will lead to affect the value of…
Q: In 2004–2006, for the first time Boeing produced fewer planes than Airbus. If Boeing finds itself…
A: The level of a business's profitability is one of the metrics that may be used to determine how…
Q: John plans to make 10 equal annual deposits starting one year from now into a fund that pays an…
A: Let the John annual deposit starting one year from now is A i =10% The cashflow diagram is shown…
Q: Choose a product or service that has a history of 20 or more years. (Ranch Dressing) Examine the…
A: A configuration where two or more additional parties commit to an exchange of services, goods, and…
Q: Money has three primary functions in any economy. Outline and explain this functions in relations to…
A: Money is used as medium of exchange and it is used an unit of exchange.
Q: Total Output Per Day Price of Good 10 $ 15 14 14 19 13 23 12 6 27 11 7 31 10 A firm's labor input,…
A: Profit maximisation is the ultimate goal of firms. The firm will hire labor where profit is…
Q: Which of the following health related entities can be thought of as a social cost? herd immunity…
A: The sum of private and external cost is the social cost.
Q: Price (dollars per unit) 100 80 60 40 20 MC MR D 0 20 40 60 80 Quantity (units per week) Figure 3 a)…
A: Perfect competition: It refers to the competition under which there is a small number of firms in…
Q: 3. Suppose Thai inflation rate is too high and the Bank of Thailand (BOT) decides to reduce…
A: Monetary policy is a bunch of devices that a country's national bank has accessible to advance…
Q: Sarah likes basketball games and going to movies. Every month he has $480 to spend on the two…
A: In financial matters, a budget constraints addresses every one of the mixes of labor and products…
Q: The market for used economics textbooks is perfectly competitive, with a market supply curve given…
A: A subsidy is an incentive given by the government to individuals or businesses to improve the supply…
Q: "Information asymmetry is detrimental for decision-making in the marketplace and hence is a market…
A: It happens when one side to a business transaction has more material information than the other.…
Q: A10 Write three econometric models capturing 1) overall; 2) within; and 3) between variation
A: Econometric models Econometric models were built from economic data and are utilized with…
Q: Unemployment rates are spread evenly over segments of the population in different education…
A: When an individual is not working and earning income, and do not have any job, then he is called…
Q: There are many private security firms, and many large housing developments have police protection…
A: Private firms are businesses that are not regulated by the government and are not subject to federal…
Q: Critically demonstrate the key difference between the two economies of scale.
A: The term "economies of scale" refers to the phenomena known as a decline in the average expenses…
Q: Aroha has to choose among three possible activities to do on Sunday morning. She ranks her…
A: The opportunity cost of doing any activity is the sacrificed value of the next best alternative.…
Q: Which of the following is NOT a result of a temporary fall in foreign demand on one country's…
A: Here, it is given that the foreign demand for exports of a country falls, it implies that foreign…
Q: J 4 ‘If workers accepted lower wages, there would be no unemployment.’ Discuss
A: In an economy, unemployment is the situation when there is relatively more number of workers…
Q: Find positive numbers x and y such that x + y = 72 and 6xy² is maximized.
A: In order to maximise a function, differentiate the function with respect to its variable and then…
Q: Describe two concepts of central bank independence. Is the Fed politically independent? Why do…
A: Goal independence and instrument independence are two types of central bank independence. In case of…
Q: What incentives arise for a central bank to fall into the time-inconsistency trap of pursuing overly…
A: The central bank is the governing body that oversees, operates, regulates, and administers the…
Q: explain the most likely reason that sydney water management has a monopoly
A: When talking about Monopoly of a firm, it can be said that a firm gets monopoly due to different…
Q: Unit of Labor 0 1 2 Total Product Product Price 0 $2.20 15 2.0 20 1.00 39 1.60 48 1.40 S 55 1.20 6…
A:
Q: A real estate developer bought land for $170 000.00 down and monthly payments of $8 450.0 for 5…
A: Given Down payment = 170,000 Monthly payment = 8450 $ Time = 5 years Interest rate = 8.75 %…
Q: Justin's demand for good 1 is given by the formula: x1d(p1,p2,I)=2⋅I/4⋅p1+6⋅p2, Suppose...…
A: Given Demand function of good 1 x1p1,p2, I=2I4p1+6p2 .. (1) Initially p1=$7, p2=$7…
Q: Economics Assuming that the government intends to adopt a ride-sharing scheme to solve the problem…
A: Perpetual Gain for infinite periods = 60 Initial Cost : C0 = 1000 Perpetual Cost = 0 Interest rate…
Q: Smithson Cutting is opening a new line of scissors for supermarket distribution. It estimates its…
A: Given information is: Fixed cost: $500 Variable cost: $0.65 per unit Selling price: $0.85 per unit…
Q: Q4. (a) Suppose a decrease in price from $100 to $5 causes an increase in Q from 1008 to 120.…
A: Given At price P1 = 10α quantity demanded Q1= 100β At price P2 =$5, quantity demanded Q2 =120 We…
Q: Value of college education $200,000 $100,000 (a) Group I C1 (y) = $40,000 y 1 2 3 Optimal choice of…
A: Market equilibrium Market equilibrium is a point at which the demand and supply in the market meet.…
Q: Discuss classical theory of unemployment
A: Unemployment is the state in which a person is unable to find employment at the market rate of pay.…
Q: Bluth’s preferences for paper and houses can be expressed as Ub(p, h) = 2pb + hb, while Scott’s…
A: Given information Bluth’s utility function Ub=2pb + hb Scott’s utility function Us= ps + 2bs…
Q: Using the money market, which process best explains what happens to the interest rate when income…
A: Money market determines the equilibrium interest rate where quantity of real money balances equals…
Q: What action should the Federal Open Market Committee (FOMC) take if it sees signs of inflation…
A: Federal reserve has twin objectives of full employment and stability. Federal reserve seeks to…
Q: In year 1 the CPI is 181, and in year 2 the CPI is 195. If Dennis's salary was $95,000$95,000 in…
A: inflation is typically a broad measure, such as the overall increase in prices or the increase in…
Q: How does Qs = 9 I thought it would be 27
A: P=30-QMC=$3Now,To determine market demand, we set price equal to the marginal…
Q: Justify how dstv has been regarded as an example of monopoly with the following characteristics of…
A: Meaning of Market: The term market refers to the situation under which the producers or the…
Q: Question: State the macroeconomic effects of budget deficit
A: Macroeconomy is that part of economics that deals with the economy as a whole. It covers the…
Q: Title Value Gross Private Domestic Investment $3,134.201 billion Private Nonresidential Fixed…
A: Gross private domestic investment is the degree of physical funding utilized in computing GDP…
Q: QUESTION 25 Purchasing power parity implies that if inflation in China increases, then the nominal…
A: At the marketplace, purchasing power parity refers to the economic theory to explain the…
Q: In the basic New Keynesian model. suppose that the anticipated future rate of inflation goes up due…
A: The basic new Keynesian model beleives in the change sin aggregate demand, which further lead to…
Q: ow has the development of capitalism influenced what became the United States from Contact to the…
A: Since the breakdown of feudalism, capitalism, also known as free market economy, has been dominant…
Q: Suppose Charles owns a lawn mowing company, Assume that without workers, no yards are mowed. When he…
A: Marginal product refers to change in total product with respect to change in its variable input.
Q: Suppose the production process for running shoes is given by q = 10KL where q is the number of pairs…
A: A production function in economics describes the technological relationship between the quantities…
Q: Using the theory of liquidity preference what effect does an increase in the money supply has on the…
A: Equilibrium interest rate is determined by the demand and supply of money.
Q: Mac's credit card statement included $1297.00 in cash advances and $143.91 in interest charges. The…
A: This is question of interest rate .
Q: At the start of the week, Marie decides to buy a pie. Does this imply that the utility she receives…
A: 1. According to the ordinal utility approach, when an individual prefers to buy one good over an…
Q: equation for the tax-adjusted user cost of capital is (r+d)PK 1-t (1-t)i-ne. =. (r-d)pk. -. (r+d)pk.
A: Given that, real interest rate,r = 0.16 depreciation rate,d = 0.06 Tax adjusted user cost, = 14.72…
xtra 6
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
- On the graph input tool, change the number found in the Quantity Demanded field to determine the prices that correspond to the production of 0, 6, 12, 15, 18, 24, and 30 units of output. Calculate the total revenue for each of these production levels. Then, on the following graph, use the green points (triangle symbol) to plot the results. Calculate the total revenue if the firm produces 6 versus 5 units. Then, calculate the marginal revenue of the sixth unit produced. The marginal revenue of the sixth unit produced is________. Calculate the total revenue if the firm produces 12 versus 11 units. Then, calculate the marginal revenue of the 12th unit produced. The marginal revenue of the 12th unit produced is_________.A local company is planning to manufacture and market a four-slice toaster. For this toaster, the research department’s estimates are aweekly demand of 300 toasters at a price of $25 per toaster and a weekly demand of 400 toasters at a price of $20. The financial department’s estimates are fixed weekly costs of$5,000 and variable costs of $5 per toaster. a) Assume that the relationship between price ? and demand ? is linear. Use the research department’s estimates to express ? as a function of ? and determine the domain of the function. b) Using your knowledge from Finite Math, determine the Revenue function in terms of ?. c) Determine the Marginal Revenue at 2 different production levels for example 250 and 500 units. Interpret these results. (HINT: Consider what a positive or negative first derivative implies) d) Assume that the cost function is linear. Use the financial department’s estimates to express the cost function interms of ?. e) Determinethe Marginal costand interpret the…A donut shp has a fixed cost of $92000 per day and a varibale cost of $2 for each donut produced. If the donuts are sold to distributors for $5 each. What is the price-demand function? What is the revenue function?
- |1.6.1 A company manufactures and sells x dellphones per week. The weekly price-demand and cost equations are given below. p= 400 - 0.5x and C(x) = 20,000 + 140x (A) What price should the company charge for the phones, and how many phones should be produced to maximize the weekly revenue? What is the maximum weekly revenue? The company should produce (Round to the nearest cent as needed.) phones each week at a price of $ The maximum weekly revenue is $ (Round to the nearest cent as needed.) (B) What price should the company charge for the phones, and how many phones should be produced to maximize the weekly profit? What is the maximum weekly profit? The company should produce (Round to the nearest cent as needed.) phones each week at a price of $ The maximum weekly profit is $ (Round to the nearest cent as needed.)Suposse a munufacture of widgets has a fixcost of $2500, a variable cost of $30 per widget ans sell 100 widgets for 4,500. Find the cost function C(n) Find the revenue function R(n) Find the profit function P(n)Find average revenue if total revenue is $4400 and output is 22
- The blue curve on the following graph represents the demand curve facing a firm that can set its own prices. Use the graph input tool to help you answer the following questions. You will not be scored on any changes you make to this graph. Note: Once you enter a value in a white field, the graph and any corresponding amounts in each grey field will change accordingly. PRICE (Dollars per unit) 100 TOTAL REVENUE (Dollars) 90 80 20 10 0 1250 1125 1000 875 750 625 500 On the previous graph, change the number found in the Quantity Demanded field to determine the prices that correspond to the production of 0, 10, 20, 25, 30, 40, or 50 units of output. Calculate the total revenue for each of these production levels. Then, on the following graph, use the green points (triangle symbol) to plot the results. 375 250 125 + 0 0 0 Demand 5 10 15 20 25 30 35 40 45 50 QUANTITY (Units) + 5 20 10 15 25 30 35 QUANTITY (Number of units) 40 Graph Input Tool Market for Goods 45 50 Quantity Demanded (Units)…Suppose the marginal cost and marginal revenue (in ¢000) for a product produced by a company is estimated to beMC=q+35 MR=560+22q−q2Where q is the quantity produced and the firm’s break-even is 5 units per weekYou are Required to1. determine the total cost and the total revenue function in terms of q.2. estimate the output at which profit is maximize3. calculate the maximum profitRoad Runner Co is a Pakistani manufacturer making Bicycles. It exports to two markets,Bangladesh and Sri Lanka. Demand for Bicycles in thesetwo markets is given by the following Functions: Bangladesh Q1 = 12 – P1Sri Lanka Q2 = 8 – P2 Where Q1 and Q2 are respective quantities sold (in thousands) andP1 and P2 are the respective prices (in Pak. Rupees per unit) in the two markets. Total cost function is C = 5 + 2 (Q1+ Q2) Required. Determine the company’s total profit function. Also, (i) What are the profit maximizing levels of price and output for the two markets? (ii) Calculate the marginal revenues in each market.? 2. Now consider two cases: (i) Company is effectively able to price discriminate in the two markets. What will be the total profits? (ii) Suppose the company does not engage in price discrimination. By charging thesameprice in the two markets what are the profit…
- What is the demand function and cost function based on the set of data below? Price Quantity Profit $50 88 -$240 $25 289 -$240 $80 -$2000 $52 148 $1256 $51 143 $1003 $55 103 $575A startup software company has indicated its cost, c(x), and revenue, f(x), as given below, such that x is the number of lines of programing code (units in 1000 lines). c(x) = 80000 - 2(x-200)2 f(x) = (x-10)3 + (x+10)2 Find the marginal cost analytically, and draw its graph Find the marginal revenue analytically, and draw its graph Solve for the x point where marginal cost is equal to marginal revenue analytically. Comment why is this point significant analytically. Write the profit function and draw its graph Is the profit function concave up or concave down?Question Road Runner Co is a Pakistani manufacturer making Bicycles. It exports to two markets,Bangladesh and Sri Lanka. Demand for Bicycles in thesetwo markets is given by the following Functions: Bangladesh Q1 = 12 – P1 Sri Lanka Q2 = 8 – P2 Where Q1 and Q2 are respective quantities sold (in thousands) andP1 and P2 are the respective prices (in Pak. Rupees per unit) in the two markets. Total cost function is C = 5 + 2 (Q1+ Q2) Now consider two cases (i) Company is effectively able to price discriminate in the two markets. What will be the total profits? (ii) Suppose the company does not engage in price discrimination. By charging the same price in the two markets what are the profit maximizing levels of price, output, and the total profits? c. Analyze, with graphs, the two alternative pricing strategies…