Nbc executives have developed a new professional sports, Ask an Expert

Economics

NBC executives have developed a new professional sports league—the XBL (Extreme Badmiton League). The short-run production function for televised games has been determined to be Q=25L-2.25L2, where L is the number of players. The marginal product of labor is MPL=25-4.5L. a. (5 points) If the output price received for each game is $20, write an expression for the league’s marginal revenue product. b. (5 points) Suppose that the XBL can hire badminton players competitively at a wage of $50. How many players would they hire at this price? c. Based on your answer to (b), calculate the output and the total revenue for XBL

View complete question

Business Economics, Economics

Category:- Business Economics
Reference No.:- M91272765

Have any Question?Write your Review or question?

Related Questions in Business Economics

From a consequentialist perspective that has as its

From a consequentialist perspective that has as its objective improving the standard of living of unskilled workers, is the introduction of a minimum wage ethically justified?

What does it mean when dollars are used as a unit of

What does it mean when Dollars are used as a unit of measurement along the vertical axis? (Indifference curve only) Can you also show me how the graph will look like?

If the coefficient of determination is 0738 what percentage

If the coefficient of determination is 0.738, what percentage of the data about the regression line is unexplained?

A study claims that 77 of children under the age of 13 in

A study claims that 77 % of children under the age of 13 in British Columbia have been vaccinated from the chicken pox. A survey of randomly selected residents of a certain city included 652 children who were under the a ...

What is the theory of consumer choice and how it consumers

What is the theory of consumer choice and how it consumers facing trade-offs make decisions and how they respond to changes in their environment?

When comparing monopolization to monopolistic competition

When comparing monopolization to monopolistic competition in the wireless telecommunications world, what are some good differences to touch on in a short paper?

With its current leverage cow copr will have a net income

With its current leverage, COW COPR will have a net income next year of $7 million. If COW CORP corporate tax rate is 30% and it pays 7% interest on its debt, how much debt can COW CORP issue this year and still receive ...

Programming assignment 1 a prime number is a positive

Programming Assignment 1: A prime number is a positive integer evenly divisible by exactly two positive integers: itself and 1. The first five prime numbers are 2, 3, 5, 7, and 11. Sometimes two consecutive odd numbers a ...

What does an increase in the savings rate do for a countrys

What does an increase in the savings rate do for a country's output? Why doesn't every country do that?

Consider cy y2 2y 4 many firms have access to this

Consider: C(y) = y^2+ 2y + 4. Many firms have access to this technology, in fact so many that there is not room for all to profitably operate in the industry. The market demand for the product is given by P = 30-Y , wher ...

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