"If a firm faces a demand curve of P = 2,000-Q and marginal costs of MC = 2Q, then the firm's profit maximizing quantity will be:" O $100 O $200 O $500 O $600

ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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#2
QUESTION 1
If the demand equation for a firm's product is equal to P = 10-Q, the marginal revenue MR is
O 5-20
O 10-4Q
O 10-Q
10-20
QUESTION 2
"If a firm faces a demand curve of P = 2,000-Q and marginal costs of MC = 2Q, then the firm's profit maximizing quantity will be:"
Ⓒ$100
$200
O $500
$600
QUESTION 3
If an amusement park decides to apply two-part tariff rule to set price, given the demand equation P-6-2.5Q and MC =$1, he
and quantity (Q).
P=$1; Q=3.
P=$30=1
Click Save and Submit to save and submit. Click Save All Answers to save all answers.
Transcribed Image Text:QUESTION 1 If the demand equation for a firm's product is equal to P = 10-Q, the marginal revenue MR is O 5-20 O 10-4Q O 10-Q 10-20 QUESTION 2 "If a firm faces a demand curve of P = 2,000-Q and marginal costs of MC = 2Q, then the firm's profit maximizing quantity will be:" Ⓒ$100 $200 O $500 $600 QUESTION 3 If an amusement park decides to apply two-part tariff rule to set price, given the demand equation P-6-2.5Q and MC =$1, he and quantity (Q). P=$1; Q=3. P=$30=1 Click Save and Submit to save and submit. Click Save All Answers to save all answers.
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