What price should a firm charge for a package of two shirts

Assignment Help Econometrics
Reference no: EM13232244

What price should a firm charge for a package of two shirts given a marginal cost of $4 and an inverse demand function P = 8 - 2Q by the representative consumer?

Reference no: EM13232244

Questions Cloud

History is a process of selection in terms of historical : Explain that " History is a process of selection in terms of historical significance in connection to the Annales School's understanding of the French Revolution.
Explain the structure of the fabric molecule : what is the relationship between the structure of the fabric molecule and the intensity with which the azo dyes color the fabric?
Determining molecular shapes of larger and larger molecules : Determining the Lewis structures of small compounds is the first step towards determining the molecular shapes of larger and larger molecules.
Identify the top five countries that lead in export : Using the most recent statistics available, identify the top five countries that lead in export and import of merchandise, respectively.
What price should a firm charge for a package of two shirts : What price should a firm charge for a package of two shirts given a marginal cost of $4 and an inverse demand function P = 8 - 2Q by the representative consumer
Nationalism of the mid-nineteenth century : What effect did the nationalism of the mid-nineteenth century have upon the socialist and Marxist movements in the various European nations, particularly England, France, Italy, Germany and Austria?
Compare internal vs external recruiting : Compare internal vs external recruiting. When would you want to use each option? what are some advantages and disadvantages of each?
Discuss the strategies that you might use in addressing : Discuss the strategies that you might use in addressing both goals and what would you develop, implement and measure to ensure successful accomplishment of these goals?
Define what volume of h2 can be produced by reaction : What volume of H2 (at 25oC and 1.00 atm ) can be produced by reaction of 161 g Fe and 202 g of HCl? (Atomic weights: Fe = 55.85, Cl = 35.45, H = 1.008).

Reviews

Write a Review

Econometrics Questions & Answers

  Define the marginal cost functions of the production

Determine algebraically the profit-maximizing outputs for the production and marketing divisions of the firm and the optimal transfer price for the intermediate product and the price of the final product.

  How much to pay for a single share of generic brands stock

Generic Brands is expected to earn a profit of $1 million each year forever into the future. If the interest rate is 5%, and there are 20,000 shares of company stock outstanding, how much will investors be willing to pay for a single share of Gene..

  Where appropriate invoke a discussion of income

The government is considering two alternative types of taxes. The first is a tax on interest income, the second is a tax on labour income. Both are to be imposed at rate t (i.e., t=.20, or 20%). Your job is to help the government understand the im..

  The minimum cost of producing 800 units of output is what

a. If the price of capital is $7.50 per unit what is the per unit price of labor b. How many units of labor should the firm use in order to produce 400 units of output at the least cost c. The minimum cost of producing 800 units of output is what

  What price-quantity combination maximizes firms profit

You are the manager of a monopoly, and your demand and cost functions are given by P = 200 - 2Q and C(Q) = 2000 + 3Qsquared, respectively. a. What price-quantity combination maximizes your firm's profits

  Find the firms inverse demand function

the manager of Burger Man - a firm that rents a spot to sell burgers at Easy University. Based on estimates provided by a consultant, burger demand (monthly) and cost functions for meals are Q= 2500-250P and C= 500+ 2Q (MC=2), respectively.

  Determine short-run average variable cost and marginal cost

A study of costs of electricity generation for a sample of 56 British firms in the 1946-1947 yielded the following long-run cost function: AVC = 1.24 +.0033Q + .0000029Q2 - .000046QZ - .026Z + .00018Z2 Where AVC = average variable cost (i.e., work..

  Identify the variable that does not change

Compute the percentage change n nominal GDP, real GDP, and the GDP deflator n 2009 and 2010 from the percentage year. For each year, identify the variable that does not change

  Cost effectiveness of a preventive maintenance event

Dr. Izobel Stevens is physician at the Westbury HMO, a New York City based medical facility serving the poor and indigent. Stevens is estimating the cost effectiveness of a preventive maintenance event,

  What will be the forecast of quantity demanded

a. Derive the demand and supply curves (qd and qs). b. What is the equilibrium price and quantity c. If P=$160 what will be the forecast of quantity demanded and quantity supplied d. At the price of $160 will there be either a surplus or shortage. Wh..

  Can they produce any linear combinations

two people live alone in isolated regions, have the same resources, grow potaotes and chickens, if one devotes resources to growing potatoes they raise 200 lbs a year. if they grow chickens they raise 50 a year. if they apportions some resourcs to ..

  Maximizing total output vs output per worker

You have given the following data about the amount your firm can manufacture per day given the number of workers it hires.

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