Assume the company revises its revenue projections in, Ask an Expert

Economics

Given the revenue function find out the marginal revenue, marginal cost, optimal revenue.

A firm estimates that the cost (in millions of $) of developing and introducing a new product over t years equals C = 500 - 20t + t2. Present value revenues related to time t are estimated at R = 750 + 35t - 1.5t2. The firm knows that the new product cannot be completed before 6 years.

Assume the company revises its revenue projections in response to a patent race with another company. Its new estimated revenue function is R = 750 + 35t - 4.0t2. What is the optimal project duration now?

View complete question

Business Economics, Economics

Category:- Business Economics
Reference No.:- M918365

Have any Question?

Related Questions in Business Economics

Suppose that the demand curve for a businesses is given by

Suppose that the demand curve for a businesses is given by P= 10000-4Q^3 and supply is P= 2000 + 4Q^3 a. Find the equilibrium price and quantity b. Calculate consumer surplus at the equilibrium price c. Calculate produce ...

A consumer advocate group selects a random sample of 20 ink

A consumer advocate group selects a random sample of 20 ink cartridges and finds that the average number of printouts per ink cartridge is 460 with a standard deviation of 52. Find the 96% confidence interval for the pop ...

Wanda is going to silver dipper ice cream shop to get a

Wanda is going to Silver Dipper Ice Cream Shop to get a treat. She has 12 flavors of ice cream to choose from. There are 6 different types of toppings, and she may get her ice cream in a bowl, a regular cone, or a waffle ...

A survey of car rentals agencies shows that the average

A survey of car rentals agencies shows that the average cost of a car rental is 0,35 per mile. The standard deviation is .05. Using Chebyshevs theorem, find the price range for which at least 93.75 % of the data values w ...

Answer in true or false1 in the circular flow model firms

Answer in true or False : 1) In the circular flow model, firms sell the services of factors of production to households 2) If GDP included the value of leisure time, the value of US GDP would most likely increase. 3) GDP ...

Under the trade model with external economies of scale is

Under the trade model with external economies of scale, is it possible for a country to be worse off with trade than it would have been without trade? Justify your answer.

For assumption of regression the four assumption linearity

For assumption of regression, the four assumption, linearity, independence, no multicollinearity, equal Variance, which one cannot be detected by any means?

Health care issues are receiving much attention in both

Health care issues are receiving much attention in both academic and political arenas. A sociologist recently conducted a survey of citizens over 60 years of age whose net worth is too high to qualify for Medicaid and ha ...

A student must answer 15 truefalse questions for a test but

A student must answer 15 true/false questions for a test, but the student did not study well. If the student randomly guesses on each question , what is the probability that the student answers 3 questions correctly?

How does the percent below poverty level compare to the

How does the "percent below poverty level" compare to the national rate? What factors are causing your county poverty rate to differ from (or equal) the national poverty rate?

4,153,160 Questions Asked
13,132 Experts
2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Recent Questions

Ask Business Economics Expert