How much dog food should charlie sell and what price should, Ask an Expert

Economics

The chart below shows the demand curve for dog food at Charlie's dog food factory and the total cost of producing various quantities:

Q P TR MR TC MC profit
1 15 3
2 13 8
3 11 15
4 9 24
5 7 35
6 5 48

a. Fill in the rest of the chart

b. How much dog food should Charlie sell, and what price should he charge? Answer first using Method 1 and then using Method 2.

c. If Charlie is required to pay a $5 annual license fee to operate his dog food factory, what happens to his marginal cost numbers? What happens to the amount of dog food he sells and the price he charges?

d. If Charlie is required to pay an excise tax of $6 per pound of dog food, what happens to his total cost numbers? What happens to his marginal cost numbers? What happens to the amount of dog food he sells and the price he charges?

View complete question

Microeconomics, Economics

Category:- Microeconomics
Reference No.:- M942652
Price:- $35

Guranteed 24 Hours Delivery, In Price:- $35

Have any Question?Write your Review or question?

Related Questions in Microeconomics

Question a car manufacturer is considering how many safety

Question: A car manufacturer is considering how many safety devices to install on a new car. The devices function independently and each one works with probability .9. Furthermore, they are connected "in parallel" so tha ...

Question imagine that 50-year-old men can be divided into

Question: Imagine that 50-year-old men can be divided into two groups: those who have a family history of cancer and those who do not. For the purposes of this example, say that 20% of a group of 1,000 men have a family ...

Question suppose that the federal government announced a

Question: Suppose that the Federal Government announced a tax rebate of $500 for all individuals filing singly and $1000 for all families filing jointly or as head of household in the upcoming tax year. Further, suppose ...

Question say that the government is considering a ban on

Question: Say that the government is considering a ban on smoking in restaurants in Tobaccoville. There are 1 million people living there, and each would benefit by $200 from this smoking ban. However, there are two larg ...

Question grade-school education is said to yield a

Question: Grade-school education is said to yield a beneficial externality because all of us benefit from interacting with people who know basic reading and writing. Assuming that this is true, make a case for providing ...

Q 1 what is the difference between micro and macro

Q. 1. What is the difference between micro and macro economics? Give an example of a microeconomic phenomenon and an example of a macroeconomic one.

Discussion wilderness backpacking expeditionsfor this

Discussion: Wilderness Backpacking Expeditions For this discussion imagine that you and some friends want to start a business to take tourists on wilderness backpacking expeditions. You have to use your own money to star ...

Question suppose in singapore the velocity of money is

Question: Suppose in Singapore the velocity of money is constant, real GDP grows by 7% per year, the stock on money grows by 10% per year, and the nominal interest rate is 8%. (a) According to the quantity theory, what m ...

Question a company bought a 65000 construction equipment

Question: A company bought a $65,000 construction equipment (5-year class). What is the MACRS depreciation for year 4? The response must be typed, single spaced, must be in times new roman font (size 12) and must follow ...

Question what major factor causes the implicit price

Question: What major factor causes the implicit price deflator and the chained price deflator to diverge over time? Under what circumstances would we expect to find very little difference in these two measures of prices? ...

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