Explanation Given information: The figure shows cost and revenue function for a charter bus company. Calculation: We can draw tangent line at q = 50 and q = 90 as follows, From the above diagram we can observe that at q = 50 the slope of the revenue is larger than the slope of the cost. Hence at q = 50 marginal revenue is greater than marginal cost and therefore it is making profit to the company

6th Edition

ISBN: 9781119399353

Author: DA

Publisher: JOHN WILEY+SONS,INC.-CONSIGNMENT

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Chapter 2.5, Problem 15P

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Whether the company add a 50^th bus or 90^th bus. Explain this using marginal revenue and marginal cost.

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Chapter 2.5, Problem 14P

Chapter 2.5, Problem 16P

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Whether the company add a 50 th bus or 90 th bus. Explain this using marginal revenue and marginal cost.

Solution Summary: The author explains that the figure shows cost and revenue function for a charter bus company.

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Whether the company add a 50^th bus or 90^th bus. Explain this using marginal revenue and marginal cost.

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Chapter 2 Solutions

Whether the company add a 50 th bus or 90 th bus. Explain this using marginal revenue and marginal cost.

Solution Summary: The author explains that the figure shows cost and revenue function for a charter bus company.

Concept explainers

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To find: Whether the company add a 50th bus or 90th bus. Explain this using marginal revenue and marginal cost.

Want to see the full answer?

Chapter 2 Solutions

To find:

Whether the company add a 50^th bus or 90^th bus. Explain this using marginal revenue and marginal cost.