Hand written solutions are strictly prohibited Assuming that the monopolistic competitor faces the demand and costs depicted below and finds the profit maximizinglevel of output, what will be the firm's profit?3632282420161284a.$8b.$-64c.$12d.$-32MC1ATC1AVCIMR1D₁1 2 3 4 5 6 789

In a monopolistic situation, equilibrium happens at the point where marginal cost equates to the…

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ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Find profit if total cost and total revenue are $300 and $400 respectively
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Panther Acre Cattle Company - Chapter 7 Lab A typical farm or ranch problem is determining the optimum or profit-maximizing weight to sell fed cattle. Assume the feeder cattle are purchased at 600 pounds. The feed required and the weight gain is shown in the table below. Feed costs 7¢ per pound and feeder cattle prices are as follows: Weight Price per Pound 600-899 lbs 72¢ go to 3rd 900-1099 lbs decimal 1100 lbs or more 70¢ Point 67¢ Pay attention to the price changes when computing MVP. Input Output Feed Weight Selling Required Gain Weight Total Average Marginal Marginal Marginal Revenue Physical Physical Value Input (lbs) (lbs) (lbs) Product Product Product Cost 600 0 0 600 432 XXX XXX XXX XXX 500 50 So 650 468 0.10 0.083 1,100 145 as 745 536.40 0.132 6.158 1,700 235 aol 835 601.20 0.138 0.15 2,300 320 85 920 644 0.139 2,900 400 80 1,000 700 0.138 3,500 465 65 1,065 745, 50 0.133 4,100 525 60 1,125 753.75 0.128 4,700 575 SO 1,175 787.25 0.122 5,300 615 40 1,215 814.05 0.116 5,900 645…
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Market price is always more than factor cost. True /False
A manufacturer has been selling 1000 television sets a week at $400 each. A market survey indicates that for each $10 rebate offered to the buyer, the number of sets sold will increase by 100 per week. Round your answers to the nearest dollar. (a) Find the demand function (price as a function of units sold). p(x) = (b) How large a rebate should the company offer the buyer in order to maximize its revenue? $ (c) If the company experiences a cost of C(x) = 77,000+ 130x, how should the manufacturer set the size of the rebate in order to maximize its profit? $
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Which of the following is not considered an operating expense? FOB destination Cost of goods sold Advertising expense Administrative expense
Acquiring a supplier because it becomes more profitable Question 4 options: will raise the asking price to offset any increase in cash flow over time will increase your profits will decrease your profits will make you alter operations
A particular style of sunglasses costs the retaller $90 per pair. At what price should the retaller mark them so he can sell them at a 10% discount off the original price and still make 40% profit on his cost?
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The state of New Jersey has in circulation (as of 2011) an instant lottery game called $1,000 Downpour. The cost of each ticket for this lottery game is $5.00. A player can instantly win $75,000, $1,000, $100, $50, $20, $10, or $5. Each ticket has 19 spots covered by latex coating, and the top four spots contain numbers that, if matched by the player's numbers, win money. The remaining 15 spots belong to the player. A player wins if any of the numbers in the player's 15 spots matches any of the four winning numbers. Number of tickets that can win Prizes 0 (i.e. not a winner) 2,853,533 621,075 10 327,600 20 58,500 50 31,200 100 5525 1,000 2561 75,000 6. Total= 3,900,000 tickets sold Find and interpret the expected outcome of this game. [Write your answer as a complete sentence]

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Assuming that the monopolistic competitor faces the demand and costs depicted below and finds the profit maximizing level of output, what will be the firm's profit? 36 32 28 24 20 16 62 12 8 4 20 a.$8 b.$-64 c.$12 d.$-32 MC1 ATC1 LAVE+ MR1 D₁ 1 2 3 4 5 6 7 8 9