User Account

All Pages

Derive the marginal revenue curve

Assignment Help Macroeconomics
Reference no: EM131255376

Suppose you are a monopolist in the market for a specific video game. Your demand curve is given by P=80-Q/2, and your marginal cost curve is MC=Q. Your fixed cost is $400.

i) Derive the marginal revenue curve

ii) Calculate the equilibrium price and quantity

iii) What is the profit?

Suppose a cinema is a local monopoly whose demand curve for adult tickets on Saturnday night P=12-2Q, where P is the price of a ticket in dollars and Q is the number of ticket sold in hundreds. The marginal cost for adult is $2

i) What is the marginal revenue cost in the market?

ii) What price should the cinema charge in the markets if its goal is to maximize profits?

Reference no: EM131255376

Questions Cloud

Assignment on law of demand : The Law of Demand states that the demand for a product is inversely related to the price of such product. Therefore, the demand for a product is considered downward sloping. This implies that quantity demanded increases when price decreases. Is th..
How the results of your study might contribute to making : Based on your understanding of social change, write one paragraph to describe how the results of your study might contribute to making a difference at a local/community, regional, or national level.
Perfectly competitive market : The following figure shows MC, AC, AVC, and MR for a firm in a perfectly competitive market. The firm wished to choose an output that leads to maximum profit.
How does the use of market mechanisms in government work : How does public entrepreneurship or the use of market mechanisms in government work? Briefly describe the following key forms of public entrepreneurship: outsourcing, public-private partnerships and privatization.
Derive the marginal revenue curve : Suppose you are a monopolist in the market for a specific video game. Your demand curve is given by P=80-Q/2, and your marginal cost curve is MC=Q. Your fixed cost is $400.
Determine the balance efficiency : The workers remain seated along the line. Proportion uptime = 0.90.
What is the probability that all six spots are taken : Consider the situation of Mr. R. B. Cheney, who owns a large gas station on a highway in Vermont.- What is the probability that all six spots are taken? - How many customers arc served every hour?
Discuss the costs and benefits associated : In Minnesota, legal statutes now prohibit smoking in almost all bars and restaurants. Discuss the costs and benefits associated with this Command and Control regulatory approach to reducing indoor pollution.
Sales increase can be handled by existing fixed assets : Austin Boston corporation's balance sheet for last year is present below. Sales last year were $10,000,000 and they are expected to increase by 20 percent next year. Net profit margin is forecasted to be 8%. Austin Boston plans to pay dividends of 60..

Reviews

Write a Review

Macroeconomics Questions & Answers

  If the head of the central bank of japan wanted to expand

if the head of the central bank of japan wanted to expand the supply of money in japan in 2009 which of the following

  Profit of a typical firm in market

In a monopolistically competitive market, in long run equilibrium, the government applies a specific $2 per unit tax per unit of output. What happens to the profit of a typical firm in this market, in both the short run and long run?

  Assume that the firm faces a labor supply curve that

Assume a competitive labor market. Draw the demand of labor curve for an individual firm. Assume that the firm faces a labor supply curve that is neither perfectly inelastic nor perfectly elastic.

  Illustrate what research did krueger use to -help win

Illustrate what research did Krueger use to "help win" a rise in the minimum wage in 1996. What did his results show.

  A severe drought has make a shortage of tomatoes.

A severe drought has make a shortage of tomatoes. Jim makes his own barbeque sauce. One of the main ingredients of his sauce is fresh tomatoes.

  What is each countrys opportunity cost of producing gloves

What is each country's opportunity cost of producing gloves and hats and if the countries could, should they trade? Provide one (1) supporting fact to support your position.

  Describe terms relevant to elasticity used in explanation

Elucidate your answer also describe terms relevant to elasticity used in your explanation.

  Which action created mone: ediths deposit or maxs loan

Let's watch a bank create money. Last Wednesday, the Bank of Numenor opened for business. The first customer, Edith, walked in the door with 100 silver coins called Thalers to deposit in a new checking account. The second customer, Max, walks in t..

  What are the causes of financial crises

What are the causes of financial crises? Can such crises be avoided? Illustrate your answer by reference to the Global Financial Crisis (3,000 word essay)

  Find country that is still in agrarian phase of development

How do the economies of the countries you selected compare to the U.S. - Is either of the selected countries still in an agrarian phase of economic development?

  Current consumers for a given good

Suppose the total demand from all current consumers for a given good is estimated by econometricians to be p = 60 - 2q (this is called "inverse" demand function, since it's written as if prices are functions of quantity demanded).

  What are the assets

Balance sheet: equipment = 500, inventories 100, receivables70, payables = 50, debt = 300

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

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