Calculate the optimal price that you should charge

Assignment Help Business Economics

Reference no: EM13160146

As a manager of a firm you find the marginal cost of the firm to be $10 and the fixed cost $100. For the range of prices that you are planning to charge, own price elasticity of demand is believed to be -1.5. Calculate the optimal (profit maximizing) price that you should charge. Show all calculations.

Reference no: EM13160146

Questions Cloud

Compute the ph and the percent ionization of butanoic acid : Calculate the pH and the percent ionization of butanoic acid in this solution. *I will only award points if a solution is presented. What good does just the answer do for me?

Given that a central bank is deemed a necessity : Given that a central bank is deemed a necessity in a free market economy should we leave it as it is or place more legislative controls?

Java program that prompts the user to input an integer : Write a Java program that prompts the user to input an integer and then outputs both the individual digits of the number and the sum of the digits.

What is the volume of m hydrochloric acid required to react : What is the volume of .885 M hydrochloric acid required to react with (a) 25 mL of .288 M aqueous ammonia (b) 10 g of sodium hydroxide (c) 25 mL of a solution

Calculate the optimal price that you should charge : For the range of prices that you are planning to charge, own price elasticity of demand is believed to be -1.5. Calculate the optimal (profit maximizing) price that you should charge. Show all calculations.

How many moles of steam are produced : How many moles of steam are produced at 2.00 atm and 202.0 by the complete combustion of 12.50 L of methane gas?

What would be the effect of a mutation : Why do mutations that inactivate the 3'-5' exonuclease activity of DNA polymerase III greatly increase the frequency of mutations? What would be the effect of a mutation that inactivated the 5'-3' exonuclease activity of DNA polymerase I?

What is the opportunity cost of producing more units : If a country is currently producing 11 units of health care and 16 units of education, what is the opportunity cost of producing 5 more units of education?

State what occurs at the molecular level of an extraction : What occurs at the molecular level of an extraction? We did an extraction of benzoic acid using NaOH and diethyl ether dried to 1, 4-dimethoxybenzoate using NaOh

User Account

All Pages