Derive the expression for marginal revenue and use it to, Ask an Expert

Economics

The original revenue function for the microchip producer is R ô°‚ 170Q ô°€ 20Q2. Derive the expression for marginal revenue and use it to find the output level at which revenue is maximized. Confirm that this is greater than the firm's profit-maximizing output and describe why.

View complete question

Microeconomics, Economics

Category:- Microeconomics
Reference No.:- M947778

Have any Question?

Related Questions in Microeconomics

Question - under the principle of insurance the

Question - Under the principle of insurance, the compensation that is provided is for the losses resulted from the risk existed previously. In some circumstances, for example natural disaster, not all losses could be cla ...

Question graphingcalculating questions each of the

Question: Graphing/Calculating Questions: Each of the following should include the requested graphic 1. Using LD = 125-9W as a starting labor demand curve, indicate the change when consumers increase their demand for the ...

Question in footnote 7 we suggested that if transaction

Question: In footnote 7 we suggested that if transaction costs are too high, a government subsidy to beekeepers might produce an efficient solution to the external benefit problem. Explain why. The response must be typed ...

Question answer questions your answers should be no more

Question: Answer Questions: your answers should be no more than a short paragraph of 3-4 sentences for each of the following questions. Assume that a firm's analysis of its balance condition shows the following: PL = $10 ...

Question an economist claims productivity is the key to

Question: An economist claims: "Productivity is the key to increasing material living standards. Defend this statement using the Solow Growth Model. Explain fully and illustrate with the appropriate graphs. The response ...

Question as advances in technology make the

Question: As advances in technology make the self-registration of guests more easily achievable, some hotel companies have moved aggressively tom implement such technologies. Those who have not done so , however, point o ...

Question - a foundation was endowed with 15000000 in july

Question - A foundation was endowed with $15,000,000 in July 2010. In July 2014, $5,000,000 was expended for facilities, and it was decided to provide $250,000 at the end of each year forever to cover operating expenses. ...

Question consider a bottled water market in which only two

Question: Consider a bottled water market in which only two firms are operating: Canyon Water and Lake Water. Assume zero cost to produce bottled water. The market demand is given by the following schedule. Price Quantit ...

Question a peggy buys a house for 200000 with a monthly

Question: (A) Peggy buys a house for $200,000, with a monthly mortgage payment of $2,000. The current interest rate is 8%. A year later, the interest rate drops to 7% and her monthly payment falls to $1,800. What happens ...

Question consider the heckscher-ohlin model from the slides

Question: Consider the Heckscher-Ohlin model from the slides in the case of no factor substitution. The production technology of food and cloth are: QF = min [LF/3 , KF] QC = min [KC/3 , LC]. The home country has 100 uni ...

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 Microeconomics Expert