What rate of output maximizes profits

Assignment Help Business Economics
Reference no: EM13798044

Using the figure above, answer the following:

What rate of output maximizes profits?

What is MR at the rate of output? What is price?

If output is increased beyond that point, what is the relationship of MC to MR? How will this affect total profits?

Reference no: EM13798044

Questions Cloud

Due to an expanded growth in a city-waste capacity : Due to an expanded growth in a city, new waste capacity is needed. A new truck is evaluated to replace the presently owned. The interest rate is 8%.
Product earns an annual gross revenues : A product earns an annual gross revenues of $90,000, the variable costs is $60. The fixed cost are $30,000 and the product is sell for $90. The quantity of product sold last year was $1000. The annual profit is most nearly:
Compute the present worth after tax cash flow : The plant has accumulated savings of $80,000 to acquire a new machine for the Manufacture Department. The new machine costs $80,000. The Straight line depreciation method is used buy this plant in all its equipments. Compute the present worth after t..
Labor demand more elastic in the long-run or the short-run : Laura (of Luke and Laura’s Itty-Bitty Drink Umbrella Inc.) is trying to decide how many workers to hire. The Itty-Bitty Drink Umbrella production function is given by: Q = 6L^(1/3)K^(1/2). The price of output is p, the wage rate is w, and the rental ..
What rate of output maximizes profits : What rate of output maximizes profits? What is MR at the rate of output? What is price? If output is increased beyond that point, what is the relationship of MC to MR? How will this affect total profits?
Employment rate increased to the prerecession level : In 2013, approximately 58 percent of the adult population (245 million) was employed, the lowest employment rate in 20 years. If the employment rate increased to the prerecession level of 62 percent, How many more people would be working? By how much..
What are some of the opportunity costs : Should the government build more shelters for the homeless? Where will it get the resources to do so? What are some of the opportunity costs?
What is global per capita income today : The World Bank projects that the world's population will increase from 7 billion today to 8 billion in 2025. World output today is roughly $80 trillion. What is global per capita income today? $ What will per capita income be in 2025 if the world's e..
Calculate the amount of water : Calculate the amount of water (M.W. = 18.02 g/mol) at its boiling point that would be vaporized by 180 Calories (note the capital C). The heat of fusion for water at its boiling point is 40.7 kJ/mol, and 1 calorie = 4.184 J. You must show all work in..

Reviews

Write a Review

Business Economics Questions & Answers

  Economics assignment

This document contains various important questions and their appropriate answers in the subject field of Economics.

  Demand and supply curves

Economics is the study of the principles governing the allocation of scarce means among competing ends when the objective of the allocation is to maximize the attainment of the ends.

  Long-run perfectly competitive equilibrium for the firm

Evaluate Government intervene and correct this situation?(a) Explain the concept of a concentration ratio. A rise in the price of magarine Explain the impact of external costs and external benefits on resource allocation long-run perfectly c..

  Supply and demand diagrams

Explain each of the following using supply and demand diagrams,  With the use of a graph, explain how these two programs affect cigarette consumption and the price of cigarettes.

  Case study: fisher-price toys

The case study of the Fisher-Price Toys, Inc., a popular case in basic economics and management from the prestigious Harvard Business School.

  Draw the production possibility curve

Draw the production possibility curve and a. Define consumer surplus and producer surplus.

  Tax revenue

The Australian government administers two programs that affect the market for cigarettes

  Maximize total welfare

How many tickets to sell to maximize total welfare.

  Difference between the cv and the ev

The change in consumer surplus (?CS) is not "theoretically" justifiable like the CV and EV but it continues to be the most widely used measure of consumer welfare change. Explain how this can be reconciled

  Depict von neumann-morgenstern utility index u in a diagram

Depict the von Neumann-Morgenstern utility index u in a diagram

  What is the market solution

What is the market solution (market price and quantity) and What is the total surplus of the society under the market solution

  Calculate gross national product and net national product

Calculate gross national product and net national product

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