Estimate the maximum revenue and marginal costs, Microeconomics

Assignment Help:

The market demand function of a firm is given by

4P + Q - 16 = 0

And the AC function takes the form

AC = 4/Q + 2 - 0.3Q + 0.05Q²

Find the Q which gives:

(a) Maximum revenue

(b) Minimum marginal costs,

Use the second derivative test in each case.

Related Discussions:- Estimate the maximum revenue and marginal costs

Per unit tax and surplus, How does a

How does a

Expected utility - consumer choice involving risk, Expected Utility: T...

Expected Utility: Theory Assume that a utility index exists which conforms to the five axioms. The expected utility for the two-outcome lottery L = (P, A, B) is given by,

Substitution and income effect on inferior good, substitution and income ef...

substitution and income effect on inferior good

How can we calculate the inflation rate, How can we calculate the Inflation...

How can we calculate the Inflation rate Inflation: The rise in general prices and the decrease in value of money. Inflation is a sustained increase in the general price level

Supply, Case 1: The market for drugs Supply, demand, and equilibrium: ...

Case 1: The market for drugs Supply, demand, and equilibrium: The market for drugs. Suppose the market for drugs is a perfectly competitive market. Let the supply curve

What is market clearing level and public good, What is market clearing leve...

What is market clearing level and public good? Market clearing level is the price level current in the market at which consumer is willing to purchase a particular commodity f

Aggregate demand for wheat, Aggregate Demand For Wheat The demand for U...

Aggregate Demand For Wheat The demand for U.S. wheat is comprised of domestic demand and export demand. The domestic demand for wheat can be given by the equation: -QDD =

Distinction between cost and expenditure, Distinction Between Cost and Expe...

Distinction Between Cost and Expenditure As has already been defined, cost is the money equivalent of material and human resources needed to produce a good or a service. Expen

Illustrates the key terms of excise tax, Illustrates the key terms of excis...

Illustrates the key terms of excise tax? Terms of excise tax: a. Tax incidence • Who bears the load of the tax? b. Excess burden or Deadweight loss • Taxes inflict

Employment and unemployment policy, EMPLOYMENT AND UNEMPLOYMENT POLICY: ...

EMPLOYMENT AND UNEMPLOYMENT POLICY: Engagement of a person in any economic activity is central to the concept of identifying a worker. A worker is one who participates in any

Write Your Message!

Name

Email id

Message

Verfication Code

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

User Account

All Pages