Calculate the quantity that maximises revenue

Assignment Help Business Economics
Reference no: EM132489501

(No Ready-to use Formula should be used in this Problem, show your iterations. Ready-to-use formulas and Calculator-derived results will not be accepted)

In order to improve the financial Situation of Thoughts, the Manager looked into expansion plans and decided to offer caterings for events. For the catering business, the manager is offering his customers a selling price p that depends on demand, where p= 9 - 0.02*D.

a-Calculate the Quantity that Maximises Revenue.

b-Calculate the Quantity that Maximises Profit (Refer to problem 1 for costs).

c-Calculate the Breakeven point(s).

d-Suppose that the selling price p=9$. Redo the questions a,b and c.

Reference no: EM132489501

Questions Cloud

Different viewpoint from keynesian economists : Supply side economists have a different viewpoint from Keynesian economists about how tax policy can impact various economic variables.
Determine the profit maximizing output : Determine the profit maximizing output, price and profit level. What causes Monopoly? Basically , perfectly competitive firms and monopolists
Determine the current stock price : The current price of a stock is $55.68. If dividends are expected to be $0.80 per share for the next five years, and the required return is 6%
Discuss the conditions that will generate economic profits : List and discuss the conditions that will generate economic Profits, normal profits, loss minimization by operating and loss minimization by closing down.
Calculate the quantity that maximises revenue : Calculate the Quantity that Maximises Profit (Refer to problem 1 for costs).
Following promote economic growth : According to new growth theory, which of the following promote economic growth? Check all that apply.
Calculate the effective interest rate : In order to start this coffee business, the Manager took a 300K loan from the bank.
Determine the best level of output for a perfectly : Determine the best level of output for a perfectly competitive firm that sells its product at P =$2.50 and faces TC = .05Q3 - 1.2Q2 + 21Q + 10
Demand for loanable funds : How does a decrease in expected profit affect the demand for loanable funds (investment demand)? Which way does the curve shift

Reviews

Write a Review

Business Economics Questions & Answers

  National initiative for space station freedom

Name at least five benefits of the national initiative for Space Station Freedom. Name three disband fits. How could these values be estimated?

  Preferences would make hikaru better off vs worse off

Hikaru consumes only sashimi and ps4 games. The price of a sashimi is p1 = $3 and the price of a ps4 game p2 = $10. Suppose that if Hikaru buys 10 pieces of sashimi and 6 ps4 games, he spends his income completely. Find Hikaru’s income and plot his b..

  Supplier contract calls for a key dimension

A supplier contract calls for a key dimension of a part to be between 1.96 and 2.04 centimetres. The supplier has determined that the standard deviation of its process, which is normally distributed, is .04 centimetre.

  Use of molecular methods in clinical microbiology

What is the one advantage and one disadvantage of the use of molecular methods in clinical microbiology.

  Decisions of the individual firm do not affect their price

Firms operate in a market structure that approaches perfect competition typically are known as "price takers", i.e., the individual firm can only expect to get the price dictated by supply and demand conditions and the decisions of the individual fir..

  Lowest interest rates in the world

Right now the United States has some of the lowest interest rates in the world. This would:

  Tax rate at appropriate level to maximize its tax revenues

To set a tax rate at the appropriate level to maximize its tax revenues, a government must engage in

  Consumption of fossil fuels

In your opinion should our government impose price floors and/or price ceilings in our economy.

  Demand for alternative fuels increasedmade from corn

As oil prices rose during 2006, the demand for alternative fuels increased. Ethanol, one alternative fuel, is made from corn.

  Just need an explanation of what it woudl look like

Where does this short-run aggregate supply curve intersect the long-run aggregate supply curve that you drew? Just need an explanation of what it woudl look like?

  What are the ways that it can help comply with legal

What are the ways that IT can help comply with legal requirements and social responsibilities surrounding the sales of alcohol?

  Inherent problems involved in discussing the notion

What are some of the inherent problems involved in discussing the notion that there is a single standard for the “American family?”

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd