a) What is the level of production maximizes the short-term profits of this company? b) What price will the company charge to maximize its profits? c) What benefits does the company obtain in the short term? d) How would advertising affect the curves shown in the graph? Would profits necessarily increase? Reason your answers.

a) What is the level of production maximizes the short-term profits of this company? b) What price will the company charge to maximize its profits? c) What benefits does the company obtain in the short term? d) How would advertising affect the curves shown in the graph? Would profits necessarily increase? Reason your answers.

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

1. Why is water, which is essential to life, so cheap, while diamonds, which are not essential to life, so expensive? Explain your answer using total utility (TU) and marginal utility (MU). 2. Discuss the advantages of perfect competition. 3. What is the shape and elasticity of the demand curve facing a perfectly competitive firm? Why? 4. How does the firm determine how much to produce in the short run?
HELP PLEASE!!! There are two questions here. 1. Is the firm maximizing profit? 2. What quantity of output should the firm produce in the long run?
Plzzz do not copy and type the answer briefly Many students come into this class and think that advertising and sales promotions are the only way to attract customers to buy products. Since you have learned that there is more to marketing than just these two things, what current promotional techniques would you consider using to promote the products for a company. Use examples to demonstrate how companies are using promotional techniques to market to customers differently and will continue to innovate promotions for the future. Since the old model of selling product traditionally is still important to understand, how are companies using this model to improve the employees' ability to sell products at different points in the consumer acquisition process. Use examples to demonstrate how companies are evolving this model. Lastly, where do you see the future of marketing going? You can finally share your opinion of marketing and your ideas of how it will change in the future.
Is a firm that satisfies the immediate needs and wants of target markets always doing what’s best for its consumers in the long run?
Use the data from the following demand schedule to answer the questions that follow. Price (P) (Dollars) Quantity Demanded (Q) Total Revenue (TR) (Dollars) Marginal Revenue (MR) (Dollars) 24.00 0 0.00 21.60 21.60 1 21.60 16.80 19.20 2 38.40 12.00 16.80 3 50.40 7.20 14.40 4 57.60 2.40 12.00 5 60.00 -2.40 9.60 6 57.60 -7.20 7.20 7 50.40 -12.00 4.80 8 38.40 -16.80 2.40 9 21.60 -21.60 0.00 10 0.00 Make the unrealistic assumption that production is costless for the monopolist in this question. The monopolist will charge a price of $ for the monopolist. per unit and sell units. This will yield an economic profit of $ Now assume the marginal cost is above zero and is equal to the marginal revenue of the fourth unit. The monopolist will now charge monopolist will now earn price and produce when production was costless. In turn, the economic profit compared to when production was costless. Grade It Now Save & Continue
Based on your current quatities and costs, can you still sell a hamburger for 2.00$ and make a profit?
Why do some frozen pizzas cost more than others? Think generic versus name brand. Why would a customer opt to purchase a name brand pizza over a generic brand?
Slide 2 Questions: a. What is the total revenue of the firm at the optimum level of output? b. What is the total cost at the optimum level of output? c. What is the profit of the firm at the optimum (profit-maximizing) level of output? d. What is the average cost of each unit sold at the optimum level of output? Is the firm at its log-run equilibrium? If yes/no, why?
In at least two paragraphs, tell the class what you've learned in Business 101 and how this will make you a better professional. Business 101 includes; basic and concept of business such as revenue,profit. basic and concepts of economic and business evironment. Basic marketing Business Planning Thanks.
Please graph what the market looks like with a short decrease in demand and what one firm looks like with a short run decrease in demand. Please make sure to graph your answer with all necessary labeling.
“An upward – sloping demand curve doesn’t make sense in my business. All I know is that if I raise my prices, revenue doesn’t go up, it goes down. I don’t sell more products, I sell less. “Can you straighten out this business man’s thinking?
A book company has made the following table for its needs, Price and Subscription. A book company has made the following table for its needs, Price and Subscription. If cost of the subscriptions were reduced by 30%. What might happen to its demand and supply. What might happen to its demand and supply if its competitors reduced their prices by 20%.