Compute the marginal revenue function

Assignment Help Microeconomics

Reference no: EM13691195

Compute the marginal revenue function from the demand equation Z=8Pz^2

Determine the value of marginal revenue when the price of good Z is $30

At what price will marginal revenue equal $1

Please help I'm lost on the concept of revenue when it comes to demand functions

Reference no: EM13691195

Questions Cloud

What are the pros and cons of each budget position : When the economy is at full employment, should the federal government run a budget deficit, budget surplus, or neither? Justify your answer. What are the pros and cons of each budget position?

Large country case : The following two equations represent the demand and supply schedules of motorbikes for Country A. Suppose country A is large enough to affect the world price of motorbike and therefore it faces an upward-sloping supply curve from the rest of world (..

What happen to reserves-checkable deposits in banking system : Suppose that the Fed buys $10 million of bond from the First National Bank. (a) Use T-accounts to show how this operation affects the balance sheets of the Fed and of the First National Bank. What happens to reserves and monetary base right after the..

Quantities demanded with new prices and original income : Eric receives utility from days spent traveling on vacation domestically (D) and days spent traveling in a foreign country (F) as given by the utility U(D, F) = DF. The price of a day spent traveling domestically is $160 and in a foreign country $200..

Compute the marginal revenue function : Compute the marginal revenue function from the demand equation Z=8Pz^2. Determine the value of marginal revenue when the price of good Z is $30

Suppose the demand curve for movie tickets : Suppose the demand curve for movie tickets has unitary price elasticity and the supply curve is perfectly price elastic. If 3 million tickets are currently sold at a price of $5, approximately how much tax revenue could the government generate from a..

Tax position of the taxpayer likely to change : In the following independent situations, is the tax position of the taxpayer likely to change? Explain why or why not. John used to make casual purchases and sales of real estate as an investor. Currently, he does so on a regular basis and has obtain..

Researcher estimated that the price elasticity of demand : A researcher estimated that the price elasticity of demand for automobiles in the United States is -1.2, while the income elasticity of demand is 3.0. Next year, U.S. automakers intend to increase the average price of automobiles by 5 percent, and th..

How many levels of each game will he play : Chucky enjoys going to the arcade to play videogames. His favorite two games are Child’s Play (C) and Bride of Chucky (B). The cost of playing one level of either game is 2 dollars, and Chucky has 20 dollars to spend on playing games. His preferences..

User Account

All Pages