Derive the marginal revenue curve for the firm

Assignment Help Business Economics
Reference no: EM132201007

The David Company's demand curve for the company's product is P = 2,000 - 20Q, where P = price and Q = the number sold per month.

Derive the marginal revenue curve for the firm.

At what output is the demand for the firm's product price elastic?

Reference no: EM132201007

Questions Cloud

Write a java program using arraylist to allow the professor : Write a Java program using ArrayList to allow the professor to enter student's names, and four test scores for each student.
What is the price elasticity of demand : Suppose equilibrium price in the market is $30, and the marginal revenue is $20. What is the price elasticity of demand?
Loans and debt : Discuss the process of debt accumulation in poor countries, ie, how loans are granted, fall behind in payment, and eventually often lead to a crisis and perhaps
Review given problem based on price controls : Governments often try to help people with price controls. Such help is most common during times of disaster, such as hurricanes. Evaluate whether or not price.
Derive the marginal revenue curve for the firm : The David Company's demand curve for the company's product is P = 2,000 - 20Q, where P = price and Q = the number sold per month.
Use a nested for loops to print a multiplication table : Write a Java program that uses nested for loops to print a multiplication table as shown
Price elasticity of demand when price : The demand curve is Qd = 200 - ¼ P. Calculate the (point) price elasticity of demand when price is $24. Is demand elastic or inelastic?
Write a java program that uses scroll bars : Write a Java program named ColorChanger that uses scroll bars or sliders to select the color for a text string as shown.
Business decisions in the financial industry : How does the regulatory environment affect business decisions in the financial industry?

Reviews

Write a Review

Business Economics Questions & Answers

  Money does make the world go around

Respond to the following discussionnn post: Money does make the world go around, before there was money it was simply trading goods. However, the growing need of money within our fast growing society has often caused rifts due to greed and wanting po..

  Affect prices for concert tickets-rate for radio programming

Clear Channel, an owner of radio stations with the Top 40 format, recently bought rock concert promoter Live Nation. How would this affect prices for concert tickets or rates for radio programming?

  Marginal revenue product of the second unit of factor

When a perfectly competitive firm (that sells its good for $18 per unit) hires 1 unit of factor X it produces 35 units of output and when it hires 2 units of factor X it produces 55 units of output. Marginal revenue product of the second unit of fact..

  Calculate the competitive equilibrium

What docs Pareto efficiency tell you about the equilibrium price ratio? Calculate the competitive equilibrium, and graph in the budget line and indicate the equilibrium allocation in your sketch.

  What do we gain from trade

The US can produce more of almost everything (US has an absolute advantage in the production of almost all commodities). Yet we only produce some and trade with other countries. Why don't we produce everything? What do we gain from trade?

  Production process using two inputs labor and capital

A production process using two inputs, labor and capital, can be written as:  Determine the least cost combination of L and K if the firm decides to produce 1,000 tons per day. What is the total cost of producing $1,000 tons per day?

  Discuss two distinct ethical issues that you will need

Discuss two distinct ethical issues that you will need to understand and respect as your business expands into your selected country.

  Economic costs of environmental damage-for example

GDP calculations do not directly include the economic costs of environmental damage-for example

  Fraction of survey respondents who preferred small classes

Suppose in a survey of N = 400 students, 215 responded that they prefer small classes and 185 responded that they prefer large classes. Let p denote the fraction of all students who preferred small classes at the time of the survey, and ˆp be the fra..

  Adverse selection and moral hazard

Many police officer positions require the applicant to have a college degree even though the tasks of a police officer rarely call upon college course material.

  Stock price rises or falls with equal probability

Suppose XYZ Corporation's stock price rises or falls with equal probability by $35 each month, starting where it ended the previous month. What is the value of a three-month at-the-money European call option on XYZ’s stock if the stock is priced at $..

  Compare the total-surplus-maximizing advertising level

In this problem, we’ll compare the total-surplus-maximizing advertising level and the equilibrium advertising level in the Grossman and Shapiro model (which we discussed in Wednesday’s class). In terms of X1 and X2, what fraction of consumers receive..

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