Search: 4. A monopolist has a constant marginal and average cost of $10

Number of results: 15,633

Economics
. Suppose the demand curve for a monopolist is QD =500 - P, and the marginal revenue function is MR =500 – 2Q. The monopolist has a constant marginal and average total cost of $50 per unit. a. Find the monopolist’s profit – maximizing output and price. b. ...
Thursday, August 23, 2012 at 2:08am by Michelle

Economics/Algebra
A monopolist has a constant marginal and average cost of $10 and faces a demand curve of QD = 100 - 10P. Marginal revenue is given by MR=100-.20P. a. Calculate the monopolist's profit maximizing quantity, price, and profit. b. Now suppose that the monopolist fears entry, ...
Sunday, November 8, 2009 at 10:41pm by too old

Economics
Suppose the demand curve for a monopolist is Qd = 500 – P, and the marginal revenue function is MR = 500 -2Q. The monopolist has a constant marginal and average total cost of $50 per unit. A. Find the monopolist’s profit- maximizing output and price. B. Calculate the...
Monday, January 17, 2011 at 8:00pm by Michelle

To: Economyst - Can you please help me?
The demand curve for a monopolist is Qd = 500 - P and the marginal revenue function is MR = 500 - 2P. The monopoloist has a constant marginal and average total cost of $50 per unit. a. Find the monopolist's profit maximizing output and price b.Calculate the monopolist'...
Wednesday, November 11, 2009 at 9:15pm by too old

Economics/Algebra
The demand curve for a monopolist is Qd = 500 - P and the marginal revenue function is MR = 500 - 2P. The monopoloist has a constant marginal and average total cost of $50 per unit. a. Find the monopolist's profit maximizing output and price b.Calculate the monopolist'...
Monday, November 9, 2009 at 9:33pm by too old

Economics/Math
The demand curve for a monopolist is Qd = 500 - P and the marginal revenue function is MR = 500 - 2P. The monoploist has a constant marginal and average total cost of $50 per unit. a. Find the monopolist's profit maximizing output and price b.Calculate the monopolist's...
Sunday, November 8, 2009 at 9:16pm by too old

economics
Suppose a monopolist faces an inverse demand function P=100-1/2Q, and the monopolist has a fixed marginal cost of $20. How much more would the monopolist make from perfect price discrimination compared to simply producing where marginal revenue equals marginal cost?
Wednesday, November 14, 2007 at 11:26am by jennifer

econ
12. A monopolist faces a constant marginal cost of $1 per unit. If at the price he is charging, the price elasticity of demand for the monopolist’s output is –0.5, then
Friday, November 18, 2011 at 2:13pm by jay

microeconomic
Consider a monopolist facing a demand curve given by P = 20 – q, where P is the market price and q is the quantity sold. The monopolist's marginal costs are MC = 2 per unit and a fixed cost of $20. What is the monopolist's profit it is charges a uniform price?
Thursday, June 9, 2011 at 7:04am by sisca

Microeconomics
The following table indicates the prices various buyers are willing to pay for a Miata sports car: Buyer A Maximum price $50,000 Buyer B Maximum price $40,000 Buyer C Maximum price $30,000 Buyer D Maximum price $20,000 Buyer E Maximum price $10,000 The cost of producing the ...
Saturday, December 5, 2009 at 11:33pm by Lorie

college/microeconomics
The following table indicates the prices various buyers are willing to pay for a Miata sports car: Buyer A Maximum price $50,000 Buyer B Maximum price $40,000 Buyer C Maximum price $30,000 Buyer D Maximum price $20,000 Buyer E Maximum price $10,000 The cost of producing the ...
Sunday, December 6, 2009 at 1:35am by Lorie

Economics
A PURE MONOPOLIST SELLS OUTPUT FOR $4 PER UNIT. THE MARGINAL COST IS $3, AVERAGE VARIABLE COSTS ARE $3.75, AND AVERAGE TOTAL COSTS ARE $4.25. THE MARGINAL RVENUE IS $3. WHAT IS THE SHORT RUN CONDITION FOR THE MONOPOLIST AND WHAT OUTPUT CHANGES WOULD YOU RECCOMMEND IN THE ...
Sunday, June 1, 2008 at 3:40pm by Marquerite

Economics
Suppose there are three types of chip consumers in the world with three different inverse demand functions given by Pa=30-1/2P, Pb=40-1/2P, and Pc=50-1/2P. The marginal cost of the monopoly that produces chips is a constant $20. What size packages should the perfectly price ...
Wednesday, November 14, 2007 at 11:29am by ashley

ECON
A pure monopolist sells output for $4.00 per unit at the current level of production. At this level of output, the marginal cost is $3.00, average variable costs are $3.75, and average total costs are $4.25. The marginal revenue is $3.00. What is the short-run and long-run ...
Tuesday, March 22, 2011 at 4:59am by KP

Microeconomics
In a natural monopoly: A) Society would be better off if antitrust laws were used to create many different firms in the market B) The marginal cost curve is positively sloped C) If the government requires marginal cost pricing, it must pay the monopolist subsidy D) The ...
Tuesday, September 23, 2008 at 10:31am by G

Economics
(a) Explain what is meant by the term “natural monopoly”. (b) Construct a diagram showing the average and marginal cost curves, and the demand and marginal revenue curves for a natural monopoly. Use your diagram to explain why profit maximising behaviour by the ...
Saturday, May 21, 2011 at 5:41am by Giska

econimics
state whether the monopolist would increase or decrease output: a. Marginal revenue exceeds marginal cost at the output produced. b. Marginal cost exceeds marginal revenue at the output produced.
Tuesday, April 12, 2011 at 8:27pm by tommy

Econ
If a pure monopolist can price discriminate by separating buyers into two or more groups: A.the marginal revenue curve and the total revenue curve will now coincide. B.the marginal revenue curve will now shift to a position above the demand curve. C.the firm will face multiple...
Friday, November 30, 2012 at 11:18am by Brandon

economics
A monopolist faces an upward-sloping marginal cost curve. Its profit-maximizing quantity will be a. at the minimum point of the marginal cost curve b. less than the (total) revenue-maximizing quantity c. equal to the (total) revenue-maximizing quantity d. in the unit elastic ...
Saturday, November 13, 2010 at 6:38pm by linda

Economics
TFC = $1,000 MC = $1 (and constant) 2.Assume that all households have the same demand schedule which is given by the following relationship: P = 10 – 2Q. If there are 400 households in the market, state what the market demand schedule and marginal revenue schedule look ...
Sunday, November 26, 2006 at 6:26pm by Pete

Managerial Economics
Take a shot, what do you think. Hint: you have a price-discriminating monopolist. First determine the Marginal revenue equations for each market. Marginal Cost is zero in both. So, allocate the marginal car to the market where MR is highest. Since the two demand curves have ...
Monday, January 12, 2009 at 2:02pm by economyst

Economics (Monopoly Pricing)
A monopolist will produce where marginal cost = marginal revenue. Total revenue is P*Q = s(1-Q)*Q = sQ - sQ^2 Total cost is s^2Q Take the first derivitive (with respect to Q): MR = s - 2sQ MC = s^2 Take it from here, Solve for Q.
Friday, August 22, 2008 at 1:10am by economyst

Economics
50. In both monopolistic competition and non-price-discriminating monopoly, isn't the marginal revenue curve lies below the demand curve? 51. A monopolistically competitive firm is producing an output level where marginal revenue is greater than marginal cost. This firm ...
Tuesday, December 5, 2006 at 6:32pm by Sammy

Microeconomics
I fully agree with the quote, and the quote is referring to an area not covered by your initial question. Economically efficient allocation of resouces calls for the marginal cost of producing the last unit to equal the marginal benefit of that last unit. And marginal benefit ...
Monday, October 20, 2008 at 9:38am by economyst

Economics
Hey just needed some pointers on the following questions. True or False? Explain.. 1. As long as the firm has to pay for an input, it would be wasteful not to use all input services purchased? 2. A profit-maximising competitive firm will never produce in the region where ...
Wednesday, October 11, 2006 at 5:05am by Jason

economics
This is a classic maximize-profits for a monopolist. Always, always, always, maximize where marginal cost (MC) equals marginal revenue (MR). OK, Total Revenue is P*Q. Using your demand equation TR=35Q-.02Q^2. Marginal revenu is the first derivitive of total revenue, so MR=35-....
Tuesday, April 7, 2009 at 2:45pm by economyst

Microeconomics - determining how many to sel
Hi, I would really appreciate it if someone could help me with these questions: An author earns royalties from his book that are specified as 10% of the book's selling price. The demand curve for this is straight and downward sloping. 1. What rule does the author want his ...
Saturday, November 11, 2006 at 5:31pm by SuprNova

Macroeconomics
You want to determine the profit-maximizing production quantity for a monopolist. You can ask the firm's consultant to draw the firm's revenue and cost curves, but each curve would cost you $1,000. From the following list indicate which curves you will request and why...
Tuesday, July 10, 2012 at 7:27pm by Heather

Managerial Economics/Math
This is a standard monopoly model question. (JALT acts like a monopolist). So, find the point where marginal cost (MC) = marginal revenue (MR). MC is easy. its the $4000 fee paid to Harvey. Total revenue is P*Q = 5000Q+40Q^2. Marginal revenue is the first derivitive of total ...
Wednesday, September 19, 2007 at 3:29pm by economyst

Economics
A monopolist is currently producing a level of output where Price = $110; Marginal Revenue = $10; Quantity = 100; Total Cost = $15,000; Marginal Cost = $10; Total Fixed Cost = $4,000. 1. To maximize profits in the short-run, the monopolist should: (a) Increase output (b) ...
Sunday, December 4, 2011 at 10:46pm by Jim

Microecnomics
A firm is a monopolist in the production of a fuel sensor system. It faces monthly market demand that varies according to the equatioin Q=310-0.25P, where P is the price per system in dollars. The firm earns Marginal revenue accordind to the equation MR=1240-8Q & incurs ...
Thursday, April 16, 2009 at 11:12am by John

economics
Give a numerical example to show that a monopolist's marginal revenue can be upward-sloping over part of its range. Hint: The price on the demand curve is the producer's average revenue
Sunday, April 29, 2012 at 10:08am by dee dee

economics-micro
Hummm. This firm should act like a monopolist. Your P=15 and Q=60 are what the monopolist would do sans any government intervention. With a price cap below what the monopolist would charge, simply plug 14 into the demand equation and solve for Q. Total revenue will be 14*Q. ...
Tuesday, October 2, 2007 at 6:48am by economyst

econ
2. A monopolist has two plants, A and B, with respective marginal cost functions given by MCA = 10 +QA and MCB = 10 + 2QB. It faces a demand curve given by P = 70 – 1/6 Q. a. What is the expression for this firm’s marginal cost function? b. How much will this firm ...
Tuesday, July 5, 2011 at 9:50pm by ln

economics
A monopoly firm is different from a competitive firm in that A. there are many substitutes for a monopolist's product while there are no substitutes for a competitive firm's product B. a monopolist's demand curve is perfectly inelastic while a competitive firm'...
Wednesday, March 21, 2012 at 2:02pm by Anonymous

mangerial economics
a monopolist has the following demand and Tc functions: Q=2,500-25P TC= 100,000 + 20Q+ 0.05Q^2 How much consumer surplus ($) will a monopolist transfer to itself
Wednesday, November 25, 2009 at 1:38am by Sam

micro econ
For a monopolist, marginal revenue is declining. The MR line can cross the MC line if MR is declining faster than MC.
Tuesday, July 7, 2009 at 4:55am by economyst

economics
A monopolist faces market demand given by P = 200 â€“ Q. For this market, MR = 200 â€“ 2Q and MC = 3Q. What quantity of output will the monopolist produce in order to maximize profits?
Thursday, November 3, 2011 at 2:41pm by martha

Economics
Q1) whether the following statement is true or not? some reasons plz~! "a monopolist produced 1 million units last year. If a $10 per unit tax is imposed, the profits of the monopolist will decrease by $10 million"
Monday, April 21, 2008 at 7:54pm by ZIO

micro economics
Marginal cost is a constant $10 per tire.quantities are measured in thousands per month ans price refers to the wholesale price. marginal cost is a constant $10 per tire. american currently sells brand name tires at a wholesale price of $28.50 and private label tires for a ...
Thursday, February 28, 2008 at 6:40pm by Anonymous

College microeconomics
Sue: good point, but I still stand by my answer. In a competitive labor market, the wage rate IS the marginal factor cost. That is, W=MFC. MFC would be the correct answer when MFC does not equal the wage rate. This would occur, for example, if a firm that wants to hire has to ...
Tuesday, April 14, 2009 at 7:43pm by economyst

Microeconomics
If the wage exceeds the value of the marginal product of labor, then hiring another worker: A. Decreases the firm’s total revenue B. Increases the firm’s profit C. Increases the firms total cost D. All of the above are correct I picked A? As a result of severe ...
Monday, October 27, 2008 at 6:43am by G

Algebra
83. Minimizing Marginal Cost The marginal cost of a product can be thought of as the cost of producing one additional unit of output. For example, if the marginal cost of producing the 50th product is $6.20, it cost $6.20 to increase production from 49 to 50 units of output. ...
Thursday, November 3, 2011 at 12:46am by Terry

advanced math
The marginal cost of a product can be thought of as the cost of producing one additional unit of output. For example, if the marginal cost of producing the 50th product is $6.20, it cost $6.20 to increase productionn from 49 to 50 units of output. Suppose the marginal cost C(...
Monday, December 3, 2012 at 7:12pm by kristina

ecoc
TC=50+16 Q -2 Q2+0.2 Q3 a.plot this curve for quantites 1 to 10 b.calculate the average total cost,average variable cost, and marginal cost for these quantities, and plot them on another graph c. discuss your results in term of decreasing,constant, and increasing marginal costs.
Thursday, August 9, 2007 at 11:18am by kim

Economics
The marginal rate of technical substitution A. Determines the rate at which a producer can substitute between two inputs in order to increase one additional unit of output B. Is the absolute value of the slope of the isoquant C. Is the absolute value of marginal revenue D. Is ...
Thursday, February 5, 2009 at 11:23pm by Carol

Economics (Monopoly Pricing)
A monopolist produces a product whose demand price and production costs vary with quality s and quantity q according to P (s; q) = s (1 - q) C (s; q) = s^2 q [s-squared multiplied by q] Calculate the price and quality levels that a monopolist would choose, and the ...
Friday, August 22, 2008 at 1:10am by Nihl

economics
there are just certain things that i do not understand about the questions...(i did read A LOT last night and i did not find anything that really answered my questions...To be more specific... suppose a competitive market consists of identical firms with a constant long run ...
Thursday, September 20, 2007 at 11:23pm by michele

Micoreconomics
As a general rule, profit-maximizing producers in a competitive maket produce output at a point where: A) Marginal cost is increasing B) Marginal cost is decreasing C) marginal revenue is increasing D) Price is less then marginal revenue I picked C? The short-run supply curve ...
Monday, September 1, 2008 at 10:32am by G

economics
suppose a competitive market consists of identical firms with a constant long run marginal cost of $10. Suppose the demand curve is given by q=1000-p a)What are the price and quantity consumed in the long run competitive equilibrium? b)Suppose one new firm enters that is ...
Thursday, September 20, 2007 at 11:23pm by michele

economics
a) when output is 2, from your table, total fixed costs are $5 and total variable costs are $27. Simple arithmatic. b) marginal cost is the change in cost from a marginal (e.g., 1 unit) change in production. c) always always always, profit is maximized when marginal cost=...
Monday, October 29, 2007 at 9:19pm by economyst

microeconomics
equilibrium = marginal private cost = marginal private benefit maximizing well being = marginal social cost = marginal social benefit
Wednesday, March 2, 2011 at 4:06pm by Anonymous

econ help
Im not sure I understand your question. In general, you want to set Marginal cost = Marginal revenue. You are given marginal cost. I dont think you can derive a marginal revenue from just a known demand elasticity. Further, its not clear from your question whether the school ...
Tuesday, June 3, 2008 at 10:14pm by economyst

Microeconomics
As a general rule, profit-maximiaing producers in a competitive maket produce ouput at a point where: A) marginal cost is increasing B) marginal cost is decreasing C) marginal revenue is increasing D) price is less than marginal revenue I was picking C for the answer? The ...
Friday, August 29, 2008 at 8:25pm by G

Economics
5. A firm's marginal cost of production is constant at $5 per unit, and its fixed costs are $20. Draw its total, average variable and average costs. Marginal Cost (MC): $5 per unit Fixed Cost (FC): $20 Total Cost (TC): $25 Average Variable Cost (AVC): $5 FC is always going...
Sunday, April 15, 2012 at 10:49pm by Daisy

micro economics
pb = 70 -0.0005qb(brand name) pp = 20-0.0002qp (private label). Marginal cost is a constant $10 per tire.quantities are measured in thousands per month and price refers to the wholesale price. marginal cost is a constant $10 per tire. american currently sells brand name tires ...
Thursday, February 28, 2008 at 6:42pm by Anonymous

Microeconomics
"In both monopoly and perfect competition the profit maximising output is at the level at which MR = MC, but only in the latter is the optimum output level such that P = MC" Explain the above statement by comparing the model of perfect competition with that of ...
Sunday, October 29, 2006 at 10:39pm by James

economics
there are just certain things that i do not understand about the questions...(i did read A LOT last night and i did not find anything that really answered my questions)...To be more specific... suppose a competitive market consists of identical firms with a constant long run ...
Friday, September 21, 2007 at 11:05pm by michele

econ 460
1. The demand for a new drug is given by P = 4 – 0.5Q. The marginal cost of manufacturing the drug is constant and equal to $1 per unit. (Prices and costs are in terms of dollars, and quantities are in millions). a. Illustrate on a diagram the following curves: demand, ...
Friday, April 30, 2010 at 12:40am by Anonymous

managerial eco
A single price setting monopolist faces the demand : P = 4000-5Q, TC = 0 + 400Q. For the single price-setting monopolist, tell me profit maximizing quantity, price,total revenue, total cost, profit and consumer surplus.
Tuesday, April 19, 2011 at 10:38am by cj

ecoc
i can not figure this out the economist for the grand corporation has estimated the company's cost function, using time series data, to be TC=50+16Q-2Q2+0.2Q3 a.plot this curve for quantites 1 to 10 b.calculate the average total cost,average variable cost, and marginal ...
Sunday, August 5, 2007 at 10:17pm by kisha

microeconomics
whew. Quite a bit. But since you asked and since you demonstrated that you tried first. 50) I think d, average total cost 51) I agree 52) I think c, price takers 53 to 56) I agree 57) I think b, zero economic profit means zero opportunity cost 58 to 61) I agree 62) I think b. ...
Monday, May 4, 2009 at 4:03pm by economyst

Product curves
If the short run total product curve is a linear function of the variable input over some range of values. Describe the shape of the marginal product and average product functions. I am guessing that the marginal product is constant, which a horizonal line. What about the ...
Monday, February 19, 2007 at 3:34pm by Anonymous

economics
HELP!!!!! One and only Inc is a monopolist. The demand function for its product is estimated to be Q=60-0.4P +6Y+2A Y=3,000 P=Price per Unit Y=Per capita disposable personal income (thousands of dollars) A=hundreds of dollars of advertising expenses The Firms average variable ...
Wednesday, August 25, 2010 at 6:35pm by Christina

Microeconomics - Pareto Efficient
I think your first sentence is right. However, your reasoning is a bit off-base. Pareto-efficient implies that people with a marginal benefit above the marginal cost of producing the good can purchase that good. The above reasons you gave for deadweight losses also imply some ...
Friday, December 11, 2009 at 9:59am by economyst

Economics
I would go with marginal utility per dollar as it can be used to guide the consumer to allocate is dollars of income to maximize utility. Although, truth be said, whenever I think of "marginal utility", I presume it means "marginal utility per dollar"
Wednesday, July 23, 2008 at 4:27am by economyst

Economics
A monopolist is in long-run equilibrium and earning economic profits equal $100 million. The government imposes a lump sum tax of $100 million on the monopolist. (A limp sum tax is a tax the monopolist must pay regardless of its level of output) Will this tax: a) cause the ...
Saturday, December 3, 2011 at 9:26pm by Jim

economics
If there is "too much of a good thing", the marginal cost of the last item exceeds its marginal benefit.
Wednesday, June 2, 2010 at 5:55pm by anonymous

Economics
D Rule 1 of microeconomics The optimal quantity for essentially everything is where marginal revenue = marginal cost
Tuesday, March 20, 2012 at 11:11pm by David

Microeconomics
Q1, I agree Q2, why did you pick B? You already noted from Q1 that Price is above MC. I would go with C. Q3. I stand by my original answer. I confidently presume Revenue is Price*Quantity, and profit is Revenue less costs. Unless marginal costs are zero, the optimizing point ...
Monday, October 20, 2008 at 9:38am by economyst

Economics
The demand function for a well known economics textbook is: P = 100 - .005Q The publisher must pay $20 per book in printing and distribution costs and, in addition, it must pay the author a $20 royalty for each book sold. (a) Your job is to provide advice to the publisher. ...
Thursday, October 12, 2006 at 9:39pm by Daniel B

college economics
how to weigh marginal cost and marginal benefits when using examples of recent decisions in your life.
Tuesday, August 28, 2012 at 9:50pm by deb

college, Microeconomics
(Daddy Warbucks employs workers in his perfectly competitive factory. Mr. Smith employs workers in his monopolistic factory as the only producer of the thing you really want. Given the following information, determine how many workers each firm will employ: The weekly salary ...
Monday, April 13, 2009 at 7:35pm by Lizzy

Calc Help
Marginal Cost = 30sqroot(x+4) with fixed costs of $1000. Marginal Revenue = 900. find profit or loss from production and sale of 5 units. how many units will result in a max profit? what is the max profit? Can someone please help. Trying to review for my final and really stuck...
Sunday, April 29, 2007 at 4:00pm by Rob

economics
explain how the strength of the economy could affect the marginal benefits and the marginal costs associated with a decision to purchase a home.
Saturday, July 17, 2010 at 12:27am by Mike J

econ
The economist for the Grand Corporation has estimated the company’s cost function, using the times series data to be TC=50+16Q-2Q2+0.2Q3 a. Plot this curve for quanties 1 to 10 b. Calculate the average total cost, average variable cost and marginal cost for these ...
Saturday, February 23, 2008 at 8:16pm by Anonymous

home economics
The economist for the Grand Corporation has estimated the company’s cost function, using the times series data to be TC=50+16Q-2Q2+0.2Q3 a. Plot this curve for quanties 1 to 10 b. Calculate the average total cost, average variable cost and marginal cost for these ...
Saturday, February 23, 2008 at 8:15pm by Anonymous

microeconomics
“Competitive firms do not want to produce its goods even after an increasing marginal product has set in and the marginal cost is decreasing”. Do you agree?
Thursday, January 6, 2011 at 12:40pm by mimi

Macroeconomics
Suppose the marginal propensity to consume is 0.75. What does this mean? What do we know about the marginal propensity to save? What do we know about the average propensity to consume? The marginal propensity to consume (MPS) the percent of an additional amount of income that ...
Wednesday, September 20, 2006 at 5:50pm by hadi

Economics
got this from my teacher, A monopolist faces a demand curve given by the following equation: P = $500 − 10Q, where Q equals quantity sold per day. Its marginal cost curve is MC = $100 per day. Assume that the firm faces no fixed cost. and have the answers for most, ...
Tuesday, May 7, 2013 at 6:47am by Julie

Economics
Ms Sue's statement is correct. However I would add the following. A firm should hire until the value of the marginal product (aka marginal revenue product or MRP) equals the marginal cost of the input (aka the marginal factor cost or MFC). The MRP will decline because of ...
Monday, July 6, 2009 at 8:53pm by economyst

managerial economicsQ3
Suppose the inverse market demand equation is P = 80 ¡V 4(QA+QB), where QA is the output of firm A and QB is the output of firm B, and both firms have a constant marginal cost of $4 (fixed costs are zero). (a)Write down the profit equations for firms A and B. (b)Write ...
Sunday, September 7, 2008 at 11:03pm by jenny

micro economics
MRTS is the marginal rate of technical substitution. In a two-input production function, it is simply the marginal product of X over the marginal product of Y. That is MRTS = -MPx/MPy and MPx is simply the first derivitive of the production function with respect to x
Tuesday, June 23, 2009 at 11:58am by economyst

Economics
explain how a firm's production function is related to its marginal product of labor,how a firm's marginal product of labor is related to the value of its marginal product, and how a firm's value of marginal product is related to its demand for labor?
Tuesday, May 29, 2012 at 8:12am by Alvin

Microeconomics
Monopolistic Competition A profit-maximizing firm in a monopolistically competitive maket is characterized by which of the following: A. Average revenue exceeds marginal revenue. B. Marginal revenue exceeds average revenue, C. Average revenue is equal to marginal revenue. D. ...
Thursday, October 16, 2008 at 11:14am by G

manageria economics
The last printer adds 20 books to the total output. So, the marginal productivity of the last printer is 20 books. The marginal productivity of the last printing press is 1000 books. The optimal choice of input is determined by the condition, Marginal productivity of printer ...
Wednesday, August 11, 2010 at 3:09am by Racine

Business Calculus
A company has operating costs of $2000 per thousand items produced. Its revenue function can be modeled by the equation: R(x)=30x/(x+2)² , where x is measured in thousands of items produced, and C and R are measured in thousands of dollars (so C(x)=2). 1. Determine the ...
Friday, March 25, 2011 at 9:15pm by Adriana

Economics
For the following characteristic say whether it describes a perfectly competitive firm, a monopolistically competitive firm, monopoly firm, or neither. a. Has marginal revenue less than price. I would think this would be neither. b. Produces at minimum of average total cost in...
Tuesday, December 5, 2006 at 6:54pm by Sally

Economics
What is more important to the consumer: Marginal utility or marginal utility per dollar and why
Wednesday, July 23, 2008 at 4:27am by Kevin

Economics
Explain how decision making, interaction and the workings of the economy influences the marginal benefits and marginal costs associated with the decision to purchase a house?
Thursday, July 8, 2010 at 2:17am by Elizabeth

Economics
Do a little research, then take a shot. Hint: Draw a picture of a natural monopolist; (Demand and MR curves, and AC and MC curves). The defining characteristic of a natural monopolist is that AC is declining for most (all) of any likely output. If AC is declining, what does ...
Tuesday, October 2, 2007 at 8:06pm by economyst

economics
Suppose the income tax rate schedule is 0 percent on the first $10,000; 10 percent on the next $20,000; 20 percent on the next $20,000; 30 percent on the next $20,000; and 40 percent on any income over $70,000. Family A earns $28,000 a year and Family B earns $65,000 a year. ...
Tuesday, June 23, 2009 at 8:47pm by Margary

Economics
My micro econ prof was trying to explain marginal analysis and he said the following: If your marginal happiness is 0 then you are maximally happy. I don't understand this at all. Could someone explain this to me? Thanks!
Monday, May 9, 2011 at 2:20pm by Lena

economics
You have the following data. A monopolist produces 1000 units of output per month, and sells it at the price of 10 each. You know that the monopolist does not do any price discrimination, and you also know that the price-cost margin of this firm (P-MC)/P is evaluated at 0.2. ...
Thursday, January 13, 2011 at 5:50am by joe

Economics
Assuming a constant marginal cost, a lower price elasticity of demand would call for a relatively lower mark-up ration.
Sunday, December 9, 2012 at 11:03pm by Manny

microeconomics
An Excel spreadsheet is very helpful for these kinds of problems. Always always always, maximize where MC=MR. So calculate marginal cost and marginal revenue schedules. Going from 0 to 1 unit, costs went from 8 to 9, so MC here is 1. (Take the hint and MC at 1/2 is 1). Going ...
Monday, January 26, 2009 at 1:37pm by economyst

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