Calculate profit at profit-maximizing price and quantity

Assignment Help Business Economics

Reference no: EM13834234

A medical device company has a monopoly on a certain class of cardiac implants. Demand for the implants is given by P=28000-5Q and marginal revenue is given by MR=28000-10Q. The total fixed costs for the implants division is 50000 and the marginal cost is given by MC=6000, so TC=50000+6000Q. Calculate profit at the profit-maximizing price and quantity.

Reference no: EM13834234

Questions Cloud

What is true about demand-model of supply and demand : If as price decreases by 10 percent, total revenue increases by 5 percent, what is true about demand? In 2014, India substantially increased its import tariff on sugarcane. Which of the following would the model of supply and demand not predict?

Describe the biological aspects of the addictive substance : Description of Substance/Behavior: In this section, describe the biological aspects of the addictive substance or behavior. Your discussion should explain the addictive properties and include its primary effects on the brain and other organ systems i..

Supply and demand model of the wholesale gasoline market : Construction contractors are the buyers of Portland cement, a key ingredient in concrete. Neither construction contractors nor their customers use much coal. Consider a supply and demand model of the wholesale gasoline market. If a tropical storm for..

Contemporary issue regarding abnormal psychology : For this discussion, you will enter into a conversation on another ongoing controversy and contemporary issue regarding abnormal psychology. Specifically, should gender dysphoria be included as a diagnosis in the DSM-5

Calculate profit at profit-maximizing price and quantity : A medical device company has a monopoly on a certain class of cardiac implants. Demand for the implants is given by P=28000-5Q and marginal revenue is given by MR=28000-10Q. The total fixed costs for the implants division is 50000 and the marginal co..

Create a histogram showing the distribution of costs : Create a histogram showing the distribution of costs. Comment upon the shape of the distribution: is it symmetric? If it is not, is it positively or negatively skewed?

Dollar is trading on the foreign exchange market : One U.S. dollar is trading on the foreign exchange market for about 1.47 Chesterfield ales (the Chesterfield currency). Therefore, one Chesterfield ale would have purchased how many U.S. dollars?

Fundamental laws and principles of physics : fundamental laws and principles of physics related to the complexity

Makes variable area flow meters that measure liquid-gas flow : Swagelok Co. of Solon, Ohio, makes variable area flow meters (VAFs) that measure liquid and gas flow rates by means of a tapered tube and float. If tooling and setup costs were $400,000 in year 0 and an additional $190,000 in year 3, determine the ex..

User Account

All Pages