User Account

All Pages

Optimal selling price to maximize the profit of product

Assignment Help Microeconomics
Reference no: EM133313915

Question

Demand for a new product is described by: Q= 800 - 5P (Q= Demand, P=Price). The unit cost of the product is $30. What should be the optimal selling price to maximize the profit of this product?

Reference no: EM133313915

Questions Cloud

Correctly measuring rates of return : List and discuss the practical problem associated with correctly measuring rates of return.
What type of ethical distress maureen is experiencing : what do you think you should reasonably expect from your fellow teammates? Describe 3 specific examples that indicate you are the beneficiary of their respect
Describe the problem of climate change in economic terms : Describe the problem of climate change in economic terms.
Spillover cost : Explain in words and "spillover cost" that occurs if people supply labor (S) but increase the spread of a Covid-type virus by going to work.
Optimal selling price to maximize the profit of product : The unit cost of the product is $30. What should be the optimal selling price to maximize the profit of this product?
What are the universalist-relative elements involved in : What are the universalist-relative elements involved in the political tug-of-war of ideas between the Japanese who hunt whale as food and those environmentalist
Pharmaceutical industry is damaging for consumers : Using the extracts and your knowledge of economics, assess the view that the market structure of the pharmaceutical industry is damaging for consumers.
How does singer deal with this apparent paradox : How does Singer deal with this apparent paradox? Do you find his response to be adequate?Singer claims that affluent people are morally required to give large
Identify the causal claim : Identify the causal claim that is being addressed in the article and provide a drawing (i.e. a concept map) to represent the causal claim.

Reviews

Write a Review

Microeconomics Questions & Answers

  Should us government play in health care for americans

What role, if any, should the U.S. Government play in health care coverage for Americans? Should the government's role in terms of health insurance be different for those with jobs and for those without jobs?

  Define basic industries of america industrial revolution

Describe the basic industries of America's Industrial Revolution and explain what made the men who controlled them so successful.

  Provide a brief overview of the study you would design

Choose a research design to investigate your research question. Explain why this design is appropriate for the study. Provide a brief overview of the study you would design.

  Necessarily increase with increase in output

If there are diminishing returns to the variable input, will average variable cost necessarily increase with increase in output?

  What is the present value of these cash returns

The Delp Computer Company has developed a new line of desktop computers. It is estimated that cash return generated by the new product line will be $800,000 per year for the next five years, and then $500,000 per year for 3 years after that(the cash ..

  Surgical mask for the corona viruus

At type of good is PPE Surgical mask for the corona viruus. Is it a Normal or inferior good Why?

  Explain the following situation a from strictly legal

discuss the following situation a from the strictly legal viewpoint b from a moral and ethical viewpoint and c from the

  Discuss the following questions with your colleagues

discuss the following questions with your colleagues. independent research will be necessary and be sure and provide

  What is the net cost of your insurance for the given period

Assume that you could have invested the annual premium in a mutual fund yielding seven percent annually. What is the net cost of your insurance for the 20-year period?

  Find gm profit- maximizing output level and price

General Motors (GM) produces light trucks in several Michigan factories, where its annual fixed costs are $180 million, and its marginal cost per truck is approximately $20,000. Regional demand for the trucks is given by: P = 30,000 - 0.1Q, where ..

  Increase or decrease in demand

Find out if, for the good marked with ALL CAP lettering, if there is the increase or decrease in demand.

  Find the competitive allocation of families over lots

Consider land prices in a rectangular country. The northern edge of the country is a desirable seacoast, which is 100 indivisible lots wide. Find the competitive allocation of families over lots, and the price of each lot

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd