Mr Browns owns and operate a dog grooming. Figure 21.1 shows the cost and revenue curves for a pet grooming session. Initially, Mr Browns sets his price to maximise profits. Figure 21.1: Costs, Revenue per grooming session 17 12 86 MC AC AR 25 36 MR Quantity of treatments per day Calculate the change in total supernormal profit if Mr Browns changes his objective from profit maximisation to revenue maximisation. a) -R225 b) -R117 c) R108 d) R125

Q: An agricultural seed company has an inverse demand given by: P = 120 - 2Q, and a cost function given…

A: Note : In case of multiple questions , we answer only the first question.  The answer to your first…

Q: (Trade Restrictions) Suppose that the world price for steel is below the U.S. domestic price, but…

A: When a country wants to restrict its imports of foreign goods it can use two devices: Tariffs…

Q: definition of products, goods and services

A: TO understand the definition of these terms, we need to understand that goods and products are used…

Q: Answer the questions a through f

A: As per company policy we are only supposed to answer one question up-to 3 subsets in one session, so…

Q: Why are families so important to the American economy?

A: Rising monetary disparity in the United States and all over the planet is broadly considered a…

Q: How is the Purchasing power important?

A: Answer - Purchasing Power - Purchasing power is overall buying capacity of country which is…

Q: blanks

A: