Consider the linear demand function q 20 - 05pa- find the, Ask an Expert

Economics

Consider the Linear demand function Q = 20 - 0.5P

a- find the level of output with the help of calculus, Qrmax, where total revenue reaches its maximum value. What price Prmx maximizes whole income? What is the value of TR at this maximum point?

b- Write the equation for marginal revenue. Using MR, verify that Qrmax derived in part c maximizes total revenue.

c- Calculate the point elasticity of demand at Prmax. Does E have the expected value? Explain briefly

View complete question

Business Economics, Economics

Category:- Business Economics
Reference No.:- M9722670

Have any Question?Write your Review or question?

Related Questions in Business Economics

Qxd 14 - 12 px andnbspqxs 14pxnbsp- 1anbspdetermine the

QXd = 14 - (1/2) P X and QXS = (1/4)P X - 1 a. Determine the equilibrium price and quantity. Show the equilibrium graphically. b. Suppose a $12 excise tax is imposed on the good. Determine the new equilibrium price and ...

Espn pays the nfl 11 billion per year for 8 yrs for the

ESPN pays the NFL $1.1 Billion per year for 8 yrs for the right to exclusively televise football. What is the NPV of the investment if the parent Disney CO has an opportunity interest rate that is equal to the cost of ca ...

A random sample ofnbsp87nbspeighth gradenbspstudents scores

A random sample of 87 eighth grade? students' scores on a national mathematics assessment test has a mean score of 279. This test result prompts a state school administrator to declare that the mean score for the? state' ...

It was reported that 72 of americans dont exercise at

It was reported that 72 % of Americans don't exercise at least 30 minutes each day. If three people are selected at random, find the probability that all three will say that they don't exercise at least 30 minutes each d ...

A if the required reserve ratio is 250 percent what is the

a. If the required reserve ratio is 2.50 percent, what is the monetary multiplier b. If the monetary multiplier is 5, what is the required reserve ratio?

The mean distance commuters drove to work each day was

The mean distance commuters drove to work each day was estimated to be 40.8 miles from a sample of 45 commuters. The sample standard deviation was 5.8 miles. Assume that the distance commuters drive to work each day are ...

Cowcor copr has a market debt-equity ratio of 100 a

COWCOR COPR has a market debt-equity ratio of 1.00 a corporate tax rate of 35% and pays 7% interest on its debt. By what amount does the interest tac shield from its debt lower COWCOW's WACC? WACC IS LOWERED BY ___%. (Ro ...

A light bulb manufacturer guarantees that the mean life of

A light bulb manufacturer guarantees that the mean life of a certain type of light bulb is at least 720 hours. A random sample of 51 light bulbs as a mean of 710.3 hours with a standard deviation of 62 hours. At an α=0.0 ...

A universitys leadership council is made up of 12 members 4

A university's leadership council is made up of 12 members: 4 are students, 3 are teachers, and 5 are deans. A newspaper reporter is planning to select two of the council members for interviews. The first member will be ...

A sample of 1000 us households is taken and the average

A sample of 1,000 U.S. households is taken and the average amount of newspaper garbage or recycling is found to be 27.8 pounds. Assuming the standard deviation of newspaper for garbage or recycling is 2 pounds. Estimate, ...

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