Express total revenue and total profits

Assignment Help Business Economics
Reference no: EM132445114

A company manufactures and sells a line of coffee machines. Demand per period (Q) for a particular model is given by the following relationship: Q = 400 ? ½ p where p is price. Total costs (including a "normal" return to the owners) of producing Q units per period are: TC = 20,000 + 50Q + 3Q2 (a) Express total revenue (TR) and total profits (TP) in terms of Q. (b) At what level of output (Q) are total profits maximized? What price will be charged? What are total profits at this output level?

Reference no: EM132445114

Questions Cloud

What price should each firm charge if it wants to maximize : What price should each firm charge if it wants to maximize its profit (or minimize its loss)?
What is peak-load pricing : What is peak-load pricing? How is it similar to price discrimination? How is it distinguished from price discrimination?
What is the equilibrium price and quantity of cigarettes : What is the equilibrium price and quantity of cigarettes? Next you know from your economics class that you will need to know the price elasticity of demand
Analytical techniques and presenting the information : Justify your answer using at least two analytical techniques and presenting the information graphically. Create your report in a 2- to 3-page Microsoft Word
Express total revenue and total profits : At what level of output (Q) are total profits maximized? What price will be charged? What are total profits at this output level?
Describe the behavior of prices : Describe the behavior of prices, output, interest rates, consumption, investment, and net exports.
What is the firm supply function : The cost of making the dinners is given by C(Q) = 10Q + (Q2/160). The marginal cost is given by MC = 10 + (Q/80).
Fixed exchange rate theory : the floating exchange rate theory. the fixed exchange rate theory. the flexible exchange rate theory. purchasing power parity.
Changes the effective unemployment rate : The unemployment rate was reported to be around 7.7% in November 2012. Keep in mind that there are a number of discouraged workers

Reviews

Write a Review

Business Economics Questions & Answers

  What is the nominal interest rate in case

Suppose that you just paid $9.91 monthly interest compunded daily on $1,000 outstanding balance on your credit card.

  Now determine equilibrium quantity

Assume that demand for a commodity is represented by the equation formula p= 90-2Qd Supply is represented by the equation formula p=-5+3Qs where Qd and Qs are quantity demanded and quantity supplied, respectively, and P is price. Using the equilibriu..

  An open economy with a fixed exchange rate

An open economy with a fixed exchange rate follow a money growth rule successfully if capital moved freely across its borders..

  Augment the level of national savings in the economy

Suppose that the Government wants to augment the level of national savings in the economy and institutes a policy to reward savings behavior. Hence, borrowers face a real interest r as always, but lenders receive r(1+s) on their savings, where ‘s’ is..

  Look at gardner eight multiple intelligences

Look at Gardner's eight multiple intelligences. Which ones do you think are the most important?

  Manager of a local sporting goods store

You are the manager of a local sporting goods store and recently purchased a shipment of 60 sets of skis and ski bindings at a total cost

  Compensation plans usually include a variety of benefits

Compensation plans usually include a variety of benefits. Name the three benefits that would be most important to you as part of your personal compensation package.

  European call option on dynamic with a strike price

If the? risk-free interest rate is 11 % per? year, what is the price of a? one-year European call option on Dynamic with a strike price of $ 42?

  Explain how might you make profits by purchases or sales

Explain  how might you make profits by purchases or sales of bonds now,with the intention to sell in a few months' time.

  Different procedures of the money supply

Explain why the different definitions are important also explain the different procedures of the money supply.

  The initial cost of constructing a permanent dam

The initial cost of constructing a permanent dam (i.e., a dam that is expected to last forever, perpetuity) is $425 million. The annual net benefits will depend on the amount of rainfall: $18 million in a “dry” year, $29 million in a “wet” year, and ..

  Q1 the government of new holland is experiencing lower

q1. the government of new holland is experiencing lower energy costs due to new technology in extracting energy sources

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