Calculate the profit maximizing price, Microeconomics

Assignment Help:

Suppose you have 10 individuals with values {$1, $2, $3, $4, $5, $6, $7, $8, $9, $10}.  Your marginal cost of production is $2.50.  What is the profit-maximizing price?  Using this information, your boss tells you that price cannot drop below $9 because you cannot earn enough profit to cover your fixed cost.  What should you tell her? 


Related Discussions:- Calculate the profit maximizing price

1, Find the market-clearing price and quantity of burritos.

Find the market-clearing price and quantity of burritos.

Help PLease, In an essay of at least four well-developed paragraphs, discus...

In an essay of at least four well-developed paragraphs, discuss U.S. economic policy. Be sure to include the following information in your essay: Compare and contrast the economi

Diminishing marginal returns, law of diminishing marginal returns does no...

law of diminishing marginal returns does not hold then output of the world can be produced in a flower pot. Explain?

Factors of production, The process of production needs several inputs. Thes...

The process of production needs several inputs. These inputs are known as the factors of production. In most cases, firms own some of the factors of production while some have to b

Compensated demand curve, Compensated Demand Curve: Compensated demand...

Compensated Demand Curve: Compensated demand function for a commodity (say x1) of an individual consumer represents demand quantity for that good (which is purchased by the co

Externalities, What is a negative externality?

What is a negative externality?

Location of industry and localization of industry, Location of industry and...

Location of industry and localization of industry: Location of industry tries to answer the key economic question "where to produce". It involves deciding on the area that an

Government increases the taxes on car ownership, Government increases the t...

Government increases the taxes on car ownership. Explain the possible market outcomes of such a decision.  As this is a tax paid by owners, and therefore not levied indirectly

buget line, What is buget line how it is calculated

What is buget line how it is calculated?

possibility production curve, how does the concept of possibility producti...

how does the concept of possibility production curve aplicable in real life?

Write Your Message!

Captcha
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