At what prices is demand for firms product price elastic

Assignment Help Microeconomics

Reference no: EM13685254

The Johnson Robot Company’s marketing managers estimate that the demand cure or the company’s robots in 2012 is

P = 3,000 – 40Q

Where P is the price of a robot and Q is the number sold per month.

Derive the marginal revenue curve for the firm.

At what prices is the demand for the firm’s product price elastic?

If the firm wants to maximize its dollar sales volume, what price must it charge?

Reference no: EM13685254

Questions Cloud

Is implicit cost inherently estimate or can it be quantified : Is implicit cost inherently an estimate or can it be quantified? And who is the primary person responsible for these estimated quantifications?

If interest rates or opportunity costs investment : If interest rates or opportunity costs investment, happened to be the same in both developed countries and emerging economy nations, what could account for faster upward shifts in the latter group’s planned investment functions?

Is verizon wireless a monopoly : Is Verizon Wireless a monopoly? In what ways could it be considered a monopoly? What markets are involved? What anti-trust legislation would apply? Is anti-trust legislation "fair" to your chosen firm? Why or why not?

What price must the firm charge in the short run : A firm sells its product in a perfectly competitive market where other firms charge a price of $90 per unit. The firm’s total costs are C (Q) = 60 + 14Q + 2Q2. What are the firm’s short-run profits? What price must the firm charge in the short run?

At what prices is demand for firms product price elastic : At what prices is the demand for the firm’s product price elastic? If the firm wants to maximize its dollar sales volume, what price must it charge?

Factors affects the marginal productivity of a worker : Which of the following factors affects the marginal productivity of a worker?

Draw the demand and marginal cost curves : The market for qbits is initially competitive and the market demand is: P = 400 - 0.4Qd. The combined marginal costs of the firms in the qbit industry are: MC = 50 + 0.6Q. Draw the demand and marginal cost curves. Compute and show how much these firm..

Expansionary macro policy will cause real output : Assuming that the LAS Curve remains stationary and does not shift, if an economy is at its potential output, an expansionary macro policy will cause real output to:

Expected to increase sharply in the near future : Presume prices in the U.S. are expected to increase sharply in the near future. This is likely to: A. shift the AD Curve to the left. B. shifts the AD Curve to the right. C. makes the AD Curve flatter. D. makes the AD Curve steeper.

User Account

All Pages