Restaurant Pricing. Consider a restaurant that charges $10 for all you can eat and has 25 customers at this price. The slope of the demand curve is $0.10 per meal, and the marginal cost of providing a meal is $6. Hint: The y-intercept equals the charge plus the (absolute value of the slope x the number of customers), and the x-intercept equals the y-intercept divided by the slope. 1.) Use the line drawing tool to draw and label the demand line. 2.) Use the line drawing tool to draw and label the marginal revenue line. 3.) Use the line drawing tool to draw the marginal cost line. Carefully follow the instructions above, and only draw the required objects. The profit-maximizing quantity is meals. (Enter your response rounded to the nearest unit.) The profit-maximizing price is $. (Enter your response rounded to the nearest dollar.) ---- Price per meal $16 $14- $12- $10- $8- $6- $4- $2- $0+ 0 20 40 60 80 100 Quantity of meals 120 140 o Q

Restaurant Pricing. Consider a restaurant that charges $10 for all you can eat and has 25 customers at this price. The slope of the demand curve is $0.10 per meal, and the marginal cost of providing a meal is $6. Hint: The y-intercept equals the charge plus the (absolute value of the slope x the number of customers), and the x-intercept equals the y-intercept divided by the slope. 1.) Use the line drawing tool to draw and label the demand line. 2.) Use the line drawing tool to draw and label the marginal revenue line. 3.) Use the line drawing tool to draw the marginal cost line. Carefully follow the instructions above, and only draw the required objects. The profit-maximizing quantity is meals. (Enter your response rounded to the nearest unit.) The profit-maximizing price is $. (Enter your response rounded to the nearest dollar.) ---- Price per meal $16 $14- $12- $10- $8- $6- $4- $2- $0+ 0 20 40 60 80 100 Quantity of meals 120 140 o Q

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

See similar textbooks

Similar questions

What are the Revenue projects?
There is a bar on Off‐Main Street called the Rock‐n‐Roll Bar. All the people that go to that bar like to listen to rock‐n‐roll music, and they love live bands. If the bar owner brings bands in to play music on a Saturday night, she will make a lot of money. However there are tenants in this building who get annoyed by the loud music. The benefits/costs to the owner/tenants of having zero, one, two or three bands on a Saturday night are listed below. Assume the bar owner has the right to hire as many bands as she likes. Iftransaction costs were $90, split between the bar owner and the tenants, how manybands would play? What would social welfare be? A. Three bands would play and social welfare would be ‐100.B. Two bands would play and social welfare would be 75.C. Two bands would play and social welfare would be ‐15.D. No bands would play and social welfare would be 0.E. Three bands would play and social welfare would be ‐190
write a explanation about UN sustainability goals 8 and 12 and elkington's triple bottom line and what these entail. (400 words)
There is a bar on Off‐Main Street called the Rock‐n‐Roll Bar. All the people that go to that bar like to listen to rock‐n‐roll music, and they love live bands. If the bar owner brings bands in to play music on a Saturday night, she will make a lot of money. However there are tenants in this building who get annoyed by the loud music. The benefits/costs to the owner/tenants of having zero, one, two or three bands on a Saturday night are listed below. If the tenants have the right to be free of loud music enforced through aproperty rule, how many bands will play in Rock‐n‐Roll Bar on a Saturday night? A. ZeroB. OneC. TwoD. ThreeE. It depends on transaction costs
13- Identify the one which is given in terms of money to the sales person. a. Promotion b. Recognition c. Salary d. Club facility Clear my choice
A device that cost 50000 at the start of the year lose 10% of its value each year. find out how much a book is worth when is 10 years old
1.A property costs $1,000 today. If it is apreciating at a rate of 5%, calculate its price in 5 years.
help
What is the 4p ( Product, price, place, promotion) of caribou coffee ?
E2
Businesses that offer repayment plans for purchases are required by law to disclose the interest rate. But that dosent mean they let you go out of there way to let you know what it is. you have to read all the paper work. Find the interest rate for the follwing purchase. For a 312 square- foot family room, you choose carpert that costs $1.44 per square foot. The tax rate is 6.1% and youre offered 24 payemnts of 27.61. Round to one decimal, if necessary.