Draw demand curve and corresponding marginal revenue curve

Assignment Help Microeconomics

Reference no: EM131004042

1. Giorgio's Brick Oven Pizza is the only pizzeria with a brick oven in town. It is not the only pizza seller so it faces a downward-sloping demand curve.The demand schedule is:

Quantity of Pizzas Price

0 $20

10 16

20 12

30 8

40 4

50 0

Draw the demand curve and the corresponding marginal revenue curve. Add a marginal cost curve so that the profit-maximizing price of a Giorgio's pizza will be $14. Add an average total cost curve so that the profit on each pizza is two dollars. Illustrate total profits.

Reference no: EM131004042

Questions Cloud

How will you use caritas processes in your nursing practice : In a world that embraces, the biomedical technolological healthcare environment, how will you use caritas processes in your nursing practice in this environment

What is meant by independence & independent mental attitude : Explain the concept of "auditor's independence" as it applies to third-party reliance on financial statements.

Draw a downward-sloping demand curve : Draw a downward-sloping demand curve and the corresponding marginal revenue curve for a monopolistically competitive firm. Add a marginal cost curve and an average total cost curve so that the firm is in long-run equilibrium. Identify the price it..

Complicated end product for the accountant : a. Assume that accounting procedures are in the form of ritual. Does this imply that the accountant's product does not serve a useful function? Discuss. b. Does it appear that Kenneth Boulding would support complicated procedures and a complicated..

Draw demand curve and corresponding marginal revenue curve : Draw the demand curve and the corresponding marginal revenue curve. Add a marginal cost curve so that the profit-maximizing price of a Giorgio's pizza will be $14. Add an average total cost curve so that the profit on each pizza is two dollars. Il..

Multiple choice test from spring 2000 : A manufacturer of torch batteries took a sample of 13 batteries from one day's production and used them continuously until they were drained. The number of hours they were used until failure were

List the elements of the audit process and the pivotal parts : Each stage of an audit-planning, fieldwork, and wrap-up-provides an essential element of the engagement. Research the audit process using your textbook and the Argosy University online library resources

What are some recent developments in petroleum pricing : Take a look at the U.S. Department of Energy's OPEC Fact Sheet at http://www.eia.doe.gov/emeu/cabs/opec.html. What are some recent developments in petroleum pricing? How relevant are the factors listed in this chapter as affecting the difficulty o..

Overview of two brands of erp software to the executive : Provide an overview of two brands of ERP software to the executive. Create a decision tree diagram that includes both brands of ERP software, analyzes key implementation questions, and describes the action outcomes for the executive

User Account

All Pages