7. A furniture company is faced with the following the
price-demand function, revenue function, and cost...
7. A furniture company is faced with the following the
price-demand function, revenue function, and cost function:
p(x) = 90 - 5x
R(x) = xp(x)
C(x) = 250 + 15x
where p(x) is the price in dollars at which x hundred chairs can be
sold and R(x) and C(x) are in thousands of dollars.
(a) Give the revenue R for producing 1200 chairs.
(b) Find the production level that gives the break-even
point.
(c) Find the production level that gives...
Demand Curve: (100,50), (150, 40), (200, 30), (250, 20),
(300,10)
Supply Curve: (50,20), (100, 30), (150,...
Demand Curve: (100,50), (150, 40), (200, 30), (250, 20),
(300,10)
Supply Curve: (50,20), (100, 30), (150, 40), (200, 50), (250,
60), (300, 70)
18. What is the quantity bought and sold in the market if the
government implements a subsidy of $40/unit?
a) 100 b) 150 c) 200 d) 250
For questions 19 and 20, please use the following information
for the demand curve and supply curve:
QD =1000–2P QS =-200+P
19. What is the quantity bought and sold if...
6. Suppose the demand equation can be represented as QD = 1200 –
10p and the...
6. Suppose the demand equation can be represented as QD = 1200 –
10p and the Supply equation by Qs= 10p.
a. Solve for the equilibrium price and quantity.
b. Say an excise tax of $5 was placed on the buyers. Solve for
the price buyers pay, price that sellers receive, and the quantity
sold in the market after the tax. Show your work and results
graphically.
c. Find the deadweight loss, consumer surplus, producer surplus,
consumer surplus, and tax...
If a monopolist is facing a linear demand equation, then the
marginal revenue equation for a...
If a monopolist is facing a linear demand equation, then the
marginal revenue equation for a monopolist:
a. Has the same slope and twice the intercept.
b. Has the same intercept, and the same slope.
c. Is the derivative of the demand equation.
d. Has the same intercept and twice the slope.
The revenue equation (in hundreds of millions of dollars) for
barley production in a certain country...
The revenue equation (in hundreds of millions of dollars) for
barley production in a certain country is approximated by
R(x)=0.0726x^2+1.4468x+2.1078 where x is in hundreds of millions of
bushels. Find the marginal-revenue equation and use it to find the
marginal revenue for the production of the given number of
bushels.
(a) The marginal-revenue equation is R(x)=___ (Round to four
decimal places as needed.)
(b) Find the marginal revenue for the production of 400,000,000
bushels. The marginal revenue is ___ hundred...
The revenue equation (in hundreds of millions of dollars) for
barley production in a certain country...
The revenue equation (in hundreds of millions of dollars) for
barley production in a certain country is approximated by
R(x)=0.0659x^2+1.3754x+2.2231 where x is in hundreds of millions of
bushels. Find the marginal-revenue equation and use it to find the
marginal revenue for the production of the given number of
bushels.
a) The marginal-revenue equation is R'(x)=
(Round to four decimal places as needed.)
(b) Find the marginal revenue for the production of
500,000,000
bushels.
The marginal revenue is ?
hundred...