For the demand function Q = 50 – P, what is the Q that maximizes Total Revenue , and the Q where Marginal revenue is zero?

Calculate the value of marginal cost when marginal revenue is $87 and the Marginal profit is $20

Problem 3 A furniture maker builds and sells wooden benches. The demand function for the benches is given by the function p = 1600 -x where p is the price per bench and x is the number of benches sold. The furniture maker also knows that the fixed costs for the business are $20,000 and each bench costs $75 to make. Part a) Create a function that represents revenue as a function of the number of benches produced and create a function that represents the cost as a function of the number of benches produced. Make sure to label your input and output variables. Part b) How many benches should be produced and sold in order to maximize revenue? What price should the furniture maker sell them? (Make sure to show your work) Part c) How many benches should be produced and sold in order to maximize profit? What is the maximum profit? (Make sure to show your work)

Calculate Marginal profit given that marginal revenue is two times that of marginal cost

The supply curve of a competitive firm is the postion of marginal cost that is

Consider the graph of a firm in a perfectly competitive market to answer the question below: P MC АТС 7 3 MR 10 What is the value of this firm's revenue if it operates where MR=MC? Enter your answer as a number below. Do not include a "$" sign.

Is it the short-run or long-run industry supply that is perfectly elastic?

Pick the correct answer and explain in steps

Can the firm's marginal revenue really be negative? Why?