Is equal to the marginal cost at each level of output

Assignment Help Business Economics
Reference no: EM131082099

The table given below shows the price of each unit of the product manufactured by a firm and the marginal cost of producing different units of the output. Table: 10.1 Output Price Marginal Cost 0 $1 $0 1 $1 $1.00 2 $1 $.80 3 $1 $.70 4 $1 $.50 5 $1 $.50 6 $1 $.70 7 $1 $.80 8 $1 $.86 9 $1 $1.00 10 $1 $1.09 According to the information in Table 10.1, the marginal revenue of the firm: a. is equal to the marginal cost at each level of output. b. is equal to price times output. c. is equal to price times marginal cost. d. is equal to $1 at all levels of the output. e. decreases with an increase in output.

Reference no: EM131082099

Questions Cloud

Find the area of the region of points that lie inside circle : Quiz 6. Use a double integral to find the area of the region of points that lie inside the circle (x - 1)2 + y2 = 1 and outside the circle x2 + y2 = 1
Research report for the department of commerce : Assume that the MPC=0.6 for every consumer in the economy. You have just been paid $20000 to produce a research report for the Department of Commerce. How this action by the government will affect your spending plans? What would be the total effect o..
What would be the total effect on the economy of action : Assume that the MPC=0.6 for every consumer in the economy. You have just received a tax cut of $20000. How this action by the government will affect your spending plans? What would be the total effect on the economy of this action? (Assume that t=0, ..
Fresh fruit to buyers in different buying situations : Imagine you are a salesperson for a fruit wholesale company that sells fresh fruit to buyers in different buying situations. In a short essay, develop three scenarios that illustrate each of the three situations.
Is equal to the marginal cost at each level of output : The table given below shows the price of each unit of the product manufactured by a firm and the marginal cost of producing different units of the output. Table: 10.1 Output Price Marginal Cost 0 $1 $0 1 $1 $1.00 2 $1 $.80 3 $1 $.70 4 $1 $.50 5 $1 $...
Find the volume of the solid that lies under the plane : Quiz 5. Find the volume of the solid that lies under the plane 4x + 6y - 2z + 15 = 0 and above the rectangle R = {(x, y) | -1 ≤ x ≤ 2, -1 ≤ y ≤ 1}
What is the nominal interest rate per year : If an investment of $20,000 is worth $22,076 at the end of one year with quarterly compounding: What is the nominal interest rate per year(APR)? What is the effective interest rate per year (APY)?
Jurisdiction with single payer health care systems : A common news story in any jurisdiction with single payer health care systems - for example, in Canada their socialized system does not allow private health care alternatives - is the battle that pits the government health system's refusal to pay for..
Discover def locations around the? usa : Discover DEF locations around the‎ USA. Start your search here!‎‎ Discover DEF locations around the‎ USA. Start your search here!‎‎vDiscover DEF locations around the‎ USA. Start your search here!‎‎ Discover DEF locations around the‎ USA. Start y..

Reviews

Write a Review

Business Economics Questions & Answers

  Central versus peripheral route to persuasion

Explain what is meant by a central versus peripheral route to persuasion and the factors that would determine when each might be used by consumers in response to an advertisement.

  Estimate the approximate after-tax rate of return

Estimate the approximate after-tax rate of return (ROR) for a project that has a before-tax ROR of 24%. Assume the company is in the 35% tax bracket and it uses MACRS depreciation for an asset that has a $27,000 salvage value.

  Illustrate between tort law - commercial productivity of us

Illustrate what do you think about the relationship between tort law and commercial productivity in the United States. Do you believe that companies should enjoy greater protections against potential tortfeasors.

  Theory of profit would account for profits being earned

Integrating problem Samantha Roberts has a job as a pharmacist earning $30, 000 per year, and she is deciding whether to take another job as the manager of another pharmacy for $40,000 per year or to purchase a pharmacy that generate revenue of $200,..

  Increase net cash from operations on the cash flow statement

Currently product Aft is charged $850,667 depreciation on the Income Statement of Andrews. Andrews is making plant improvements to Aft and depreciation charges will increase to 965,330. Decrease Net Cash from Operations on the Cash Flow Statement. In..

  What is total number of hours worked per week in the economy

A numerical application of Okun’s law Consider an economy that initially has a labor force of 2000 workers. Of these workers, 1900 are employed and each works 40 hours a week. Ten units of output are produced by each hour of labor. What is total numb..

  Qget an answer from tutors to this homework question

q.get an answer from tutors to this homework question nowassume that in 2008 the following prevails in the republic of

  Manufacturer has paid an engineering firm

A manufacturer has paid an engineering firm $200,000 to design a new plant, and it will cost another $2 million to build the plant. In the meantime, however, the manufacturer has learned of a foreign company that offers to build an equivalent plant f..

  Should banks make money on money

Should Banks Make Money on Money? Can the banks make easy profits because the money multiplies? How? Is it fair and efficient? Is the basic structure of banking stable and fair? Could it be different?

  Explain how the raising of short-term interest rates

Explain how the raising of short-term interest rates would affect all of the following in the United States: the inflation rate, the unemployment rate, the value of the U.S. dollar, net exports, and U.S. stock markets. Include at least one well-label..

  Determine the market rate of substitution

Determine the market rate of substitution. (b) In your graph show the budget set. (c) If PX doubles, what happens to the budget constraint. Show this effect in your graph. (d) What is the meaning of the slope of the two budget constraints?

  Pickup trucks relative to the quantity supplied

During the summer of 2011, General Motors (GM) had trouble selling pickup trucks. According to an article in USA Today : General Motors dealers had a 122-day supply of Chevrolet Silverado and GMC Sierra pickups in June, more than 50% above what’s con..

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