Business, 11.03.2020 23:09 Ezekielcassese

Professor Bong has just written the first textbook in Punk Economics. It is called 'Up Your Isoquant'. Market research suggests that the demand curve for this book will be Q = 2,000-100P, where P is the book's price. It will cost $1000 to set the book in type. This setup cost is necessary before any copies can be printed. In addition to setup cost, there is a marginal cost of $4 per book for every book printed.

a. What is the total revenue function R(Q) for Professor Bong's book?

b. What is the total cost function C(Q) for producing Professor Bong's book?

c. What are the marginal revenue function MR(Q) and the marginal cost function MC(Q)?

d. Find the profit-maximizing quantity of books for Professor Bong to sell.

Answers: 1

Show answers

Another question on Business

Business, 21.06.2019 19:40

Michigan mattress company is considering the purchase of land and the construction of a new plant. the land, which would be bought immediately (at t = 0), has a cost of $100,000 and the building, which would be erected at the end of the first year (t = 1), would cost $500,000. it is estimated that the firm's afterminustax cash flow will increase by $100,000 starting at the end of the second year, and that this incremental flow would increase at a 10 percent rate annually over the next 10 years. what is the approximate payback period?

Answers: 3

Answer

Business, 22.06.2019 06:40

10. which of the following is true regarding preretirement inflation? a. defined-benefit plans provide more inflation protection than defined-contribution plans. b. because of preretirement inflation, possible investment-related growth is increased for defined-contribution plans. c. all types of benefits are designed to cope with preretirement inflation. d. preretirement inflation is generally reflected in the increase in an employee's compensation level over a working career.

Answers: 3

Answer

Business, 22.06.2019 19:50

Managers in a firm hired to improve the firm's profitability and ultimately the shareholders' value will add to the overall costs if they pursue their own self-interests. what does this best illustrate? a. diseconomies of scale b. principal-agent problem c. experience-curveeffects d. information asymmetries

Answers: 1

Answer

Business, 22.06.2019 23:30

The upper-level managers of synergy technology are meeting for the week to look at the long-term company goals and overall direction of the organization. the ceo has expressed her concern over the economy and has told her managers to look closely at the environment outside the organization before making decisions and to be future oriented. in this meeting, top managers of synergy are

Answers: 2

Answer

You know the right answer?

Professor Bong has just written the first textbook in Punk Economics. It is called 'Up Your Isoquant...

Questions