Express the firm marginal revenue

Assignment Help Basic Computer Science
Reference no: EM132100545

Can you please give me a step by step solution to this problem?

The manager of a local monopoly estimates that the elasticity of demand for its product is constant and equal to -3. The firm's marginal cost is constant at $30 per unit.

a. Express the firm's marginal revenue as a function of its price.

MR =   × P

Reference no: EM132100545

Questions Cloud

Explain the legal guidelines for applicant screening : What factors influenced public and private sector changes in private security strategy since the Civil War?
What team leader management style would be most effective : According to the Sarin and O'Connor (2009) article, certain style and goal structures of team leaders have a strong influence on internal team dynamics.
Which statement about the above goods is not true : Where PA is the price of the product A, PB is the price of product B, PC is the price of the product C, I is the level of income.
Determine whether or not cultural quirks could restrain : Since you have lived in the United States for many years, your friend believes that you understand job coaching for a traditional American company.
Express the firm marginal revenue : Express the firm's marginal revenue as a function of its price.
Which production planning technique would you use and why : He also instructs you to make sure that the company does not incur any shortage cost. Which production planning technique would you use and why?
Determine the best course of action for bringing the project : Determine your best course of action for bringing this project in on schedule and update your project plan to reflect your recommendation.
Why is team identity important-how could it impact morale : Why is a team identity important? How could it impact morale? How could it impact the way external stakeholders evaluate your work
Discuss the value of planning in the integration : Discuss the value of planning in the integration of new technology using best practices. Provide a list of common best practices using examples from successful.

Reviews

Write a Review

Basic Computer Science Questions & Answers

  Why do you think businesses would prefer the methodology

Opting-out of Big Data.Need a response of 200-250 words on the practice of requiring customers to specifically opt-out of data sharing practices.

  Draw a map showing the interactions

The landlord has a number of alternatives for increasing his profits (attracting more customers, increasing prices, getting customers to spend more etc.) but each of these leads to a string of other effects. Draw a map showing the interactions for..

  How does the name server hierarchy relate to zone hierarchy

how does the name server hierarchy relate to the zone hierarchy? How do you deal with the fact that each zone may have multiple name servers?

  What are the configuration entries

What are the configuration entries used in the /etc/dhcp/dhcpd.conf file to specify the TCP/IP parameters for IP address range, default gateway

  Technical paper-object-oriented programming

Use the Internet or Strayer databases to research the advantages, features, and common examples of OOP and EDP. Note: You may use the Association for Computing Machinery (ACM) Digital Library to support research on the above topics. Instructions d..

  Draw a graph with five vertices and five edges

Draw a graph with five vertices and five edges. Then use pencil and paper to implement Djikstra's algorithm for this graph. Show the tree and the shortestpath array at each step.

  The concept of protecting personal information

This assignment has two goals: 1) have students increase their understanding of the concept of Protecting Personal Information (PPI) and other ethical issues related to the use of information technology through research, and 2) learn to correctly use..

  Value of the bond increases

Steven Manley buys his handsome self a $10,000 bond sold at a 6% yield. However, if the market interest rate decreases to 4%, the value of the bond increases to

  Business has encountered an event

Look up and research an instance where a business has encountered an event (disaster, hack, environmental issue, etc.) and provide a brief synopsis.

  Should a router ever advertise reachability

Should a router that uses BGP to advertise routes treat the set of routes advertised differently than the set of routes in the local routing table?

  Score from a distribution of scores

How is calculating a percentile for a mean from a distribution of means different from doing so for a score from a distribution of scores?

  Information technology strategic plan

Imagine that a company has recently hired you as a senior business consultant. The company is seeking to gain better traction with regard to customer satisfaction and loyalty.

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