Answers
| Q | P | TR | MR | TC | MC | Profit |
| 1 | 20 | 20 | 20 | 16 | 16 | 4 |
| 2 | 18.5 | 37 | 17 | 20 | 4 | 17 |
| 3 | 17 | 51 | 14 | 25 | 5 | 26 |
| 4 | 15.5 | 62 | 11 | 33 | 8 | 29 |
| 5 | 14 | 70 | 8 | 42 | 9 | 28 |
| 6 | 12.5 | 75 | 5 | 53 | 11 | 22 |
| 7 | 11 | 77 | 2 | 68 | 15 | 9 |
| 8 | 9.5 | 76 | -1 | 88 | 20 | -12 |
TR=P*Q
MR=Change in TR
MC=change in TC
Profit = TR-TC
ii) The profit-maximizing output will be where MC=MR
Q=4 Units
P=15.5
Profit = 29
iii) The socially optimal quantity will be where P=MC at Q=7 units
A monopoly does not produce this level of output
This is achieved when the goods and services are distributed in an optimal manner and when the price that the firm sets will be equal to the marginal cost where the MC curve intersects the demand curve.
.Similar Solved Questions
1 answer
13. What is the most widely accepted theory as to how HIV evolved? (A) Viral recombination...
13. What is the most widely accepted theory as to how HIV evolved? (A) Viral recombination in a chimp infected with multiple types of HIV. (B) US Government Bioweapon. (C) Antiretroviral and recreational drug use. (D) Recombination between two or more SIV strains 14. AIDS stands for Acquired Immuno ...
1 answer
Provide the IUPAC name of the major product for the following reaction: cis-2-butene + Br2 →...
Provide the IUPAC name of the major product for the following reaction: cis-2-butene + Br2 → ? (In CH2Cl2.)...
1 answer
Q's 1-3. Regarding the Raphael and Bryant article, how does the US' approach or focus to...
Q's 1-3. Regarding the Raphael and Bryant article, how does the US' approach or focus to public health differ from: 1. Canada (1 sentence maximum) 2. Sweden (1 sentence maximum) 3. United Kingdom (1 sentence maximum)...
1 answer
Question 14 5 pts RHPS Company is considering the purchase of a new machine. The new...
Question 14 5 pts RHPS Company is considering the purchase of a new machine. The new machine falls into the MACRS 3-year class, has an estimated life of 3 years, it costs $100,000 and RHPS plans to sell the machine at the end of the third year for $20,000. The new machine is expected to generate new...
1 answer
4. The heat capacity of copper is 0.382 J/gº.C. A 22.6 g sample of copper at...
4. The heat capacity of copper is 0.382 J/gº.C. A 22.6 g sample of copper at 93° C is placed in 50 g of water at 23.9° Ć. What is the final temperature of the system?...
1 answer
How do you find the length of the missing side given a? b=24 c=40?
How do you find the length of the missing side given a? b=24 c=40?...
1 answer
How much greater is #(-13x^2 - 13x - 10) + (19x^2 - 19x - 5)#?
How much greater is #(-13x^2 - 13x - 10) + (19x^2 - 19x - 5)#?...
1 answer
Is there a difference among the 3 treatments in the table below? Test using α =...
Is there a difference among the 3 treatments in the table below? Test using α = .05 Complete the ANOVA table that follows as an aid (Recommend doing so on a separate sheet of paper, or separate document), then answer the questions that follow. Treatment A Treatment B Treatment C 0 2 4 &s...
1 answer
Prescott Corporation issued ten thousand $1,000 bonds on January 1 2018. The bonds have a 10...
Prescott Corporation issued ten thousand $1,000 bonds on January 1 2018. The bonds have a 10 year term and pay interest semiannually. This is the partial bond amortization schedule for the bonds Effective Interest Decrease in Balance Payment Cash 400,000 400,000 400,000 400.000 344.632 342,971 341,2...
1 answer
In many countries such as the US, when a pharmaceutical company discovers a new drug, it...
In many countries such as the US, when a pharmaceutical company discovers a new drug, it can apply to the government for a patent on the new drug. The patent gives the company the exclusive right to sell the new drug for a long period of time, such as 20 years. In other words, the pharmaceutical com...
1 answer
Green Caterpillar Garden Supplies Inc. is considering a one-year project that requires an initial investment of...
Green Caterpillar Garden Supplies Inc. is considering a one-year project that requires an initial investment of $600,000; however, in raising this capital, Green Caterpillar will incur an additional flotation cost of 2%. At the end of the year, the project is expected to produce a cash inflow of $84...
1 answer
1.2 [30 Marks] Sketch an approximation of the Bode Plot for the following process. Label any...
1.2 [30 Marks] Sketch an approximation of the Bode Plot for the following process. Label any break frequencies and slopes in terms of dB / decade. S( S+ 10) G(S) (s+0.01)(S+0.1)(8+100)...
1 answer
***Please solve the problem below using R, and provide the R code you used in order...
***Please solve the problem below using R, and provide the R code you used in order to do so*** The mean undergraduate cost for tuition, fees, room, and board for four-year institutions was $26,489 for the 2004-2005 academic year. Suppose that the standard deviation of the distribution was $3204 and...
1 answer
Device 1 gives a reading X1 that has a mean of 2 and standard deviation of...
Device 1 gives a reading X1 that has a mean of 2 and standard deviation of 5. Device 2 which is more sophisticated and more expensive gives a reading X2 that has a mean of 1.2 and a standard deviation of 2. Deui of 5 Deu ues X, that has and more that-has-a-mean-"has a stading Standaed deviat...
1 answer
We have #P(x)=(x^2+x+1)^2015+x+1#. How to calculate #sum_(k=1)^4030 1/x_k#?
We have #P(x)=(x^2+x+1)^2015+x+1#. How to calculate #sum_(k=1)^4030 1/x_k#?...
1 answer
4. (4 pts) Consider the surface z = x’y+y3. (a) Find the normal direction of the...
4. (4 pts) Consider the surface z = x’y+y3. (a) Find the normal direction of the tangent plane to the surface through (1,1,2). (b) Find the equation of the tangent plane in (a). (c) Determine the value a so that the vector 7 = -7 +27 +ak is parallel to the tangent plane in (a). (d) Find the eq...
1 answer
The Hubble Space Telescope orbits about 600 km above the Earth. It's 2.4 meters across. If...
The Hubble Space Telescope orbits about 600 km above the Earth. It's 2.4 meters across. If we were to aim the HST down instead of up, how big would be the smallest details we can make out on the surface using visible light?...
1 answer
D. industry The usual initial age at which infants begin to demonstrate meaningful social smi les...
d. industry The usual initial age at which infants begin to demonstrate meaningful social smi les in 8. response to parental interaction is at: a. I month b. 4 months c. 6 months d. 2 months Object permanence, an indication of developing mental representation in an infant, is usually first demonstra...