Table 17-4Only two firms, ABC and XYZ, sell a particular product. The following table shows the demand curve for their product.Each firm has the same constant marginal cost of $8 and zero fixed cost.PriceQuantityTotalDemandedRevenue(Dollars perunit)(Units)(Dollars)2826130241024022153302020400182545016304801435490124048010454508504005533046024026513070Refer to Table 17-4. If this market were perfectly competitive instead of oligopolistic, what quantity would beproduced?а. 25b. 50С. 35d. 70O O O O

Market power expresses the ability of a business unit in keeping its market price above the level…

Table 17-4 Only two firms, ABC and XYZ, sell a particular product. The following table shows the demand curve for their produc Each firm has the same constant marginal cost of $8 and zero fixed cost. Price Quantity Total Demanded Revenue (Dollars per unit) (Units) (Dollars) 28 26 5 130 24 10 240 22 15 330 20 20 400 18 25 450 16 30 480 14 35 490 12 40 480 10 45 450 8 50 400 6. 55 330 4 60 240 65 130 70 Refer to Table 17-4. If this market were perfectly competitive instead of oligopolistic, what quantity would be produced? а. 25 b. 50 с. 35 d. 70

Table 17-4 Only two firms, ABC and XYZ, sell a particular product. The following table shows the demand curve for their produc Each firm has the same constant marginal cost of $8 and zero fixed cost. Price Quantity Total Demanded Revenue (Dollars per unit) (Units) (Dollars) 28 26 5 130 24 10 240 22 15 330 20 20 400 18 25 450 16 30 480 14 35 490 12 40 480 10 45 450 8 50 400 6. 55 330 4 60 240 65 130 70 Refer to Table 17-4. If this market were perfectly competitive instead of oligopolistic, what quantity would be produced? а. 25 b. 50 с. 35 d. 70

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

ChapterB: Differential Calculus Techniques In Management

Section: Chapter Questions

Problem 3E

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Price and cost (dollars per student) $150 120 88 76 72 ATC 40 - MC MR 24,000 30,000 36,000 Quantity of students enroiled 15,000 Your college decides to offer a psychology course as a MOOC that can be taken by students anywhere in the world, whether they are actually enrolled in your college or not. The demand and cost situation for the MOOC is shown in the figure. The faculty member who designed the course argues: "I think the course should be priced so that the maximum number of students enroll." Which price should this faculty member favor? O A. $0 В. $40 C. $88 D. $150
Maria manages a bakery, that specializes in ciabatta bread, and has the following information on demand and costs: Ciabatta Bread Sold Price (P) Per Hour (Q) 0 123 456 7 8 $6.00 5.50 5.00 4.50 4.00 3.50 3.00 2.50 2.00 Total Cost (TC) $2.00 6.00 9.00 11.50 13.50 15.00 16.00 17.50 20.00 loaves of ciabatta bread per hour. (Enter your response as an integer.) a. To maximize profits, Maria should sell Maria should charge a price of $ (Enter your response rounded to two decimal places.) Maria's maximum profit is $ (Enter your response rounded to two decimal places.) b. The marginal revenue when selling the profit-maximizing number of loaves of ciabatta bread is $ (Enter your response rounded to two decimal places.) The marginal cost when selling the profit-maximizing number of loaves of ciabatta bread is $. (Enter your response rounded to two decimal places.)
Maria manages a bakery, that specializes in ciabatta bread, and has the following information on demand and costs: Ciabatta Bread Sold Price Per Hour (Q) (P) 0 $6.00 1 5.50 2 5.00 3 4.50 4 4.00 5 3.50 6 3.00 7 2.50 8 2.00 Total Cost (TC) $2.00 6.50 10.00 13.00 15.50 17.50 19.00 21.00 24.00 loaves of ciabatta bread per hour. (Enter your response as an integer.) a. To maximize profits, Maria should sell Maria should charge a price of $ Maria's maximum profit is $ (Enter your response rounded to two decimal places.) (Enter your response rounded to two decimal places.) (Enter your b. The marginal revenue when selling the profit-maximizing number of loaves of ciabatta bread is $ response rounded to two decimal places.) The marginal cost when selling the profit-maximizing number of loaves of ciabatta bread is $. (Enter your response rounded to two decimal places.)
How would you calculate a firms total cost and total revenue using this graph?
The diagram shows the price, marginal cost and average cost curves facing a perfectly competitive firm in the short run. What is the total revenue of the profit maximising firm in the short run? a) R720 b) R800 c) R960 d) R2 000 20 2 Cost, price (Rand) MC I 100 60 80 Output per day AC AVC Price
Refer to the table below: Quantity (Bushels) (Q) 0 1 2 DEEL AWN 6 10 Total Revenue (TR) $0.00 4.00 8.00 12.00 16.00 20.00 24.00 28.00 32.00 36.00 40.00 Total Cost (TC) $1.00 4.00 6.00 7.50 9.50 12.00 15.00 19.50 25.50 32.50 40.50 Profit (TR-TC) -$1.00 0.00 2.00 4.50 6.50 8.00 9.00 8.50 6.50 3.50 - 0.50 Marginal Revenue (MR) $4.00 4.00 4.00 4.00 4.00 4.00 4.00 4.00 4.00 4.00 Marginal Cost (MC) $3.00 2.00 1.50 2.00 2.50 3.00 4.50 6.00 7.00 8.00 bushels of wheat (enter a whole number). Farmer Parker will maximize profits by producing Suppose that the marginal cost of wheat increases by $0.50 for every bushel of wheat produced. For example, the marginal cost of producing the eighth bushel of wheat is now $6.50. Will this increase in marginal cost change the profit-maximizing level of production for Farmer Parker? How much profit will Farmer Parker make now? $ (round your answer to the nearest penny).
X 1 ences If the price of oats is $3.0 per kilo, calculate the total revenue and the total profit (or loss) at the quantities shown in below table. If you are entering any negative numbers be sure to include a negative sign (-) in front of those numbers. Leave no cells blank - be certain to enter "0" wherever required. Mc Graw Hill Quantity (kilos) Total revenue Total cost Total profit $ 600 1800 $1,900 700 2100 $2,000 $ 800 2400 $2,400
Using the graph below, calculate the firm's profits at the profit maximizing output Price 408 384 360 336 312 288 264 240 216 192 168 144 120 96 72 48 24 0 0 56 112 168 224 280 336 392 448 504 560 616 672 728 784 840 896 Quantity -PMRMC-AC
A firm on competitive market has the data about cost as below Q,0, 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14 TC 100160208254290320340355370390430475525580640 a. Form a table with numbers about: total revenue, average cost, average variable cost and marginal cost of this firm. Determine the quantity that this firm will shutdown b. To maximize the profit, what will be the output of this firm if the price of product is 45 and if the price is 50. c. Determine the supply curve of this firm 3. A firm on competitive market has the data about cost as below Q 0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 TC 100 160 208 254 290 320 340 355 370 390 430 475 525 580 640 a. Form a table with numbers about: total revenue, average cost, average variable cost and marginal cost of this firm. Determine the quantity that this firm will shutdown b. To maximize the profit, what will be the output of this firm if the price of product is 45 and if the price is 50. C. Determine the supply curve of this firm
Maria manages a bakery, that specializes in ciabatta bread, and has the following information on demand and costs: Ciabatta Bread Sold Per Price Total Cost Hour (Q) (P) (TC) $6.00 $1.50 1 5.50 5.00 2 5.00 7.50 3 4.50 9.50 4 4.00 11.00 3.50 12.00 6 3.00 12.50 7 2.50 13.50 8 2.00 15.50 a. To maximize profits, Maria should sell loaves of ciabatta bread per hour. (Enter your response as an integer.)
Help me
Output TFC TVC TC MC ATC A 25 25 В 1 25 25 50 25 50 C 2 25 40 65 32.5 3 25 70 95 E 25 110 33.75 F 5 25 160 50 What is the marginal cost of the 4th unit of output? 40 25 50 Cannot be determined.