Suppose a stream is discovered whose water has remarkable healing powers.  You decide to bottle the liquid and sell it.  The market demand curve is linear and is given as follows: P = 53 - Q.  The marginal cost to produce this new drink is $5. What price would this new drink sell for if it sold in a competitive market?   A. 0   B.  $5   C.  $29   D. $17

Q: The inverse demand for a product is given by P = 400 - 5Q, where Q measures the number of units and…

A: Approach to solving the question: Detailed explanation: Before Technological Innovation:Inverse…

Q: he market for paperback detective novels is perfectly competitive. We have two types of consumers in…

A: Regular reader's demand curve: P = 79 - 2Q Put Q = 0, and solve for P => P = 79 - 2(0) => P =…

Q: Refer to Figure 1. When the price of the good is $14, the firm's maximum profit is a. $240. b. $180.…

A: What are the cost curves? A firm's total cost (TC) is the sum of the production's variable cost…

Q: A market consists of ten similar suppliers that are making the same supply decisions. To find the…

A: Market Supply Curve: It is the graphical representation of the summation of all individual Supply…

Q: Suppose the total cost of producing widgets can be described by Y=10X²+50X+100 where Y is the total…

A: Given: Total cost function (TC) y = 10x2 + 50x + 100 Competitive market The condition of equilibrium…

Q: Businesses often advertise that they sell "directly from the factory" and thus they "cut out the…

A: Removing the go between implies various things. More often than not, it implies a brand is removing…

Q: Competition determines market price because the more that toy is in demand (which is the competition…

A: When demand increases,supply remaining same. Equilibrium price increases.

Q: A theatre that sells a ticket for a comedy show. The ticket price is 3 Rials to have a seat and…

A: The firm sells the tickets to the consumers at the price of $3 per ticket. The cost of the snack…

Q: You decide to create a burger restaurant named BurgerDeals to help pay for college fees. The table…

A: Since the question you have posted consists of multiple parts, we will answer the first two parts…

Q: campus.

A: Given : Individual Demand : P=165-3Q Number of students=193 Price = $20

Q: Consider the market for electricity. There is only one provider of electricity in the market. Use…

A: Since you have posted a question with multiple sub-parts, we will solve first three sub parts for…

Q: Suppose you are an economist working in a watch factory operating in a competitive market. The cost…

A: Answer: Given, Total cost function: CT = 200 + Q2 Marginal cost function: MC= 2Q Fixed cost: FC =…

Q: If demand curve for alphonso mangoes is D = 25000 ­-30P and supply curve is S = 10000 + 70P, find…

A: D = 25000 ­-30P  S = 10000 + 70P  Equilibrium will occur when demand = supply

Q: You run a produce stall at a farmer's market, but rather than sell your own goods, you travel to…

A: The market for Carrot, Turnips and Oranges are given as follows.Your MarketMarket AMarket…

Q: A hot dog vendor faces a daily demand curve of Q=1800-15P. If the vendor has been selling 300 hot…

A: The demand curve faced by the hot dog vendor is Q=1800-15P. The vendor sells 300 hot dogs each day.

Q: The price that will maximize the revenue from selling fries is

A: Solution 1)Consider the above given that X+1000p=700 X=700-1000p We know that Revenue R=X×Price

Q: If demand curve for alphonso mangoes is D = 25000 ­-30P and supply curve is S = 10000 + 70P, How…

A: We can get the quantity supplied from the supply function. The supply function is positively…

Q: UESTION 11 In which case is velocity the highest? the price level equals 4, the money supply equals…

A: The Velocity of money refers to the number of times the money is exchanged during a fixed period. A…

Q: Which of the following is an example of a reason why the supply curve for an oil company slopes up?…

A: When all other variables are held constant, a supply curve in economics shows the relationship…

Q: If there is an increase in supply for a product, how will market equilibrium be restored? As the…

A: The market equilibrium will be where demand curve and supply curve intersect each other. At the…

Q: 12. The costs of inflation: Consider two possible inflation scenarios. In one, the inflation rate is…

A: Inflation: Inflation is an economic concept that is defined as a rise in the general price level of…

Q: If demand curve for alphonso mangoes is D = 25000 ­-20P and supply curve is S = 10000 + 80P, find…

A: Equilibrium will occur when  Demand function = supply function

Q: Every House in a small town has a well that provides water at no cost. However, if the town wants…

A: Demand: Demand refers to the quantity of a good or service that consumers are willing and able to…

Q: Using a product (good or service) of your choice, provide an example of a situation where the demand…

A: Answer to the question is as follows:

Q: do fast i will 5 upvotes.

A: The objective of this question is to understand the impact on price and quantity when firms have an…

Q: 2. There are two brands of cigarettes X, Y. The demand for each is as follows: Qx = 80 – 2p Qy = 60…

A:

Q: 11. A store is having a massive sale on margarine. What happens to the demand for the substitute…

A: When a commodity's relative price changes in relation to other replacement goods, the demand for…

Q: Consider the following model of a firm. The firm can sell any number of units at the constant price,…

A: Marginal cost:Marginal cost is the additional unit that is added to the total cost. It is calculated…

Q: Suppose a firm's cost function is C(q) = 12q +4q². The firm's marginal cost is MC=12+8q. a. Graph…

A: In simple words we can say that the Marginal Cost basically means the change in the total production…