Answered: If the marginal-revenue function for a…

Business

Economics

If the marginal-revenue function for a manufacturer's product is dr = 2000-20g-3q² dq find the demand function.

Managerial Economics: Applications, Strategies and Tactics (MindTap Course List)

14th Edition

ISBN:9781305506381

Author:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris

Publisher:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris

Chapter3: Demand Analysis

Section: Chapter Questions

Problem 5E

See similar textbooks

Similar questions

Question 1 Sal's Streaming Company streams TV shows to subscribers in the US and Canada. Demand is Qus 50 (1/3)Pus - QCA 80 (2/3)P CA = - where Q's are in thousands of subscriptions per year and P's are the subscription prices per year. The cost of providing Q units of service is given by TC = 1000 + 30Q, where Q = Qus+ QCA (a) What are the profit-maximizing prices and quantities for the US and Canadian markets? (b) As a consequence of a new VPN service that Facebook has developed, subscribers in Canada are now able to get the US streams and vice versa, so Sal can charge only a single price. What is the profit-maximizing single price that he should charge? (c) In which situation is Sal better off? In terms of consumers' surplus which situation do people in Canada prefer and which do people in the US prefer? Why?
Please help, this is for financial mathematics, thank you so much!!!!!
A) Derive the demand function B) Analyze thefeatures of function elements of a and b PLEASE ANSWER
Lukanga Water has been providing water services in the Central Province for more than 20 years. Business analysts estimated the demand for water is P 40- 5Q, where Q is the number of clients served (in thousands) and P is the price charged (in millions of Kwacha). Lukanga Water total costs are determined as TC = 10 - 0.75Q. (a) How much is the profit maximizing level of output? (b) How much is Price at profit maximizing level of output? (c) Calculate the Profit level.
On the graph input tool, change the number found in the Quantity Demanded field to determine the prices that correspond to the production of 0, 6, 12, 15, 18, 24, and 30 units of output. Calculate the total revenue for each of these production levels. Then, on the following graph, use the green points (triangle symbol) to plot the results. Calculate the total revenue if the firm produces 6 versus 5 units. Then, calculate the marginal revenue of the sixth unit produced. The marginal revenue of the sixth unit produced is________. Calculate the total revenue if the firm produces 12 versus 11 units. Then, calculate the marginal revenue of the 12th unit produced. The marginal revenue of the 12th unit produced is_________.
A firm with market power sells its product in rre markets. The price in Market lis three times the price in Market 2 Assuming the firm faces the same constant mbrginal cost in each market and the price elasticity of demand in Market 1 is -1.2, the demand in Market 2 has an elasticity of -2. has an elasticity of -3.6. has an elasticity of-0.4. is less elastic than the demand in Market 1
How do you calculate the revenue of a firm that produces only one good?
Note the detail required, thanks
Sherwin-Williams Company Data Sales Sales Selling Price (P) (GHS/Gallon) 15 Region (Q) 160 1. 2. 220 140 190 13.5 3. 16.5 145 130 17 160 200 16 7 13 150 18 210 12 10 190 15.5 Required: a. Specify the lincar demand model for Sherwin-Williams' paint. b. Estimate the demand function for Sherwin-Williams' paint. c. Give an economic interpretation of the estimated intercept and slope cocfficients.
A manufacturer knows that: His TR is given by Revenue = 23Q – Q2 His total cost of production is; Cost = 36 + 2Q + 0.1Q2 Where Q is the weekly production in thousands a) Economists define MR as the rate of change of Total revenue. Derive an expression for Marginal Revenue (MR) b) How do you think Economists’ would define ‘Marginal Cost’? Derive an expression for marginal Cost (MC) c) What output will make marginal Revenue equal Marginal cost?
I don’t understand
No written by hand solution Suppose that headphones can be produced at a constant marginal cost. Headphone A is priced at $20 and headphone B is priced at $30. (a) If the Lerner index of headphone A divided by the Lerner index of headphone B is 0.5, what is the marginal cost of producing headphones? (b) Using your answer to part ‘a’, what is the elasticity of demand of headphone A? What is the elasticity of demand of headphone B?