The table shows cost and revenue data for a clinic. Calculate the clinics marginal cost, marginal revenue,
Question:
The table shows cost and revenue data for a clinic. Calculate the clinic’s marginal cost, marginal revenue, and profits at each volume. Which price maximizes its profits?
Transcribed Image Text:
Surgeries Price Revenue Cost 250 $200 $50,000 $49,000 300 $210 $63,000 $61,000 350 $220 400 $230 $77,000 $92,000 $74,750 $90,500 450 $240 $108,000 $108,250
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 66% (3 reviews)
ANSWER To calculate the marginal cost marginal revenue and profits at each volume we can use the fol...View the full answer
Answered By
Pushpinder Singh
Currently, I am PhD scholar with Indian Statistical problem, working in applied statistics and real life data problems. I have done several projects in Statistics especially Time Series data analysis, Regression Techniques.
I am Master in Statistics from Indian Institute of Technology, Kanpur.
I have been teaching students for various University entrance exams and passing grades in Graduation and Post-Graduation.I have expertise in solving problems in Statistics for more than 2 years now.I am a subject expert in Statistics with Assignmentpedia.com.
4.40+
3+ Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Business questions
-
The table shows cost and revenue data for a clinic. Calculate the clinics marginal cost, marginal revenue, and profits at each volume. Which price maximizes its profits? Surgeries Price 250 $2,000...
-
The table shows cost and revenue data for an outpatient surgery clinic. Calculate the clinics marginal cost, marginal revenue, and profits at each level of output. Which price maximizes its profits?...
-
Textbook authors must be careful that the reading level of their book is appropriate for the target audience. Some methods of assessing reading level require estimating the average word length. We've...
-
Determine the range of the 2x function y = 3 sec 3
-
Some corporations use FIFO to estimate their inventory costs. Others use LIFO. What issues are important to this decision? What effect can the choice have on a companys net income and cash flow from...
-
The website www.gamefaqs.com asked, as their question of the day to which visitors to the site were invited to respond, Do you ever read the end-user license agreements when installing software or...
-
There are various boxes illustrated as A, B C and D in the Figure below. Select the best description for each of these boxes from the choices 14: We restate the systems-based approach to auditing and...
-
Jason Clark, an experienced hunter, bought a paintball gun. Clark practiced with the gun and knew how to screw in the carbon dioxide cartridge, pump the gun, and use its safety and trigger. Although...
-
A $ 3 0 , 0 0 0 loan at 6 . 7 % compounded annually requires monthly payments of $ 4 5 0 . ( Round your answers to 2 decimal places. ) a . Calculate the interest component of Payment 2 9 . Interest...
-
The pricequantity relationship has been estimated for a new prostate cancer blood test: Q = 4,000 (20 P). Use a spreadsheet to calculate the quantity demanded and total spending for prices ranging...
-
Why is the demand for an individual firms healthcare products usually elastic?
-
On June 1, Maui Travel Agency, Inc., was established. The following transactions were completed during the month. 1. Stockholders invested $40,000 cash, receiving common stock in exchange. 2. Paid...
-
2. (12 points) A researcher hypothesizes that watching Comedy Central reduces anger in prison inmates. A sample of 8 inmates is administered the State Anger/Hostility Scale, their mean score is 5.0...
-
6. A car manufacturer estimates that the cost of production of x cars of a certain model is C(x) = -20x + 0.01 x 2 - 800. How many cars should be produced for a minimum cost? [Please justify your...
-
Latania is a 34-year-old female with a series of volatile interpersonal relationships. She expresses extreme jealousy when her friends spend time with other friends, and she can't maintain romantic...
-
psychological models or psychological theories. Basically these are different ways to think about human behaviorwhat causes behavior and how best to adapt to mental illness or adjustment problems....
-
Product Development: Identify which sports team you are representing and what product you would recommend for the team license. Why did you choose this product? What target audience will purchase it
-
An airplane is flying due north at 180 m/s. Earth's magnetic field has a northward component of 0.30 mT and an upward component of 0.38 mT. (a) If the wingspan (distance between the wingtips) is 46...
-
A company pledges their receivables so they may Multiple Choice Charge a factoring fee. Increase sales. Recognize a sale. Collect a pledge fee. Borrow money. Failure by a promissory notes' maker to...
-
Consider the following three mutually exclusive alternatives: Assuming that Alternatives B and C are replaced with: identical replacements at the end of their useful lives. and an 8% interest rate,...
-
A new car is purchased for $12,000 with a 0% down. 9% loan the loan's length is 4 years. After making 30 payments, the owner desires to payoff the loan's remaining balance. How much is owed?
-
A year after buying her car, Anita has been offered a job in Europe. Her car load is for $15,000 at a 9% nominal interest rate for 60 months. If she can sell the car for $12,000, how much does she...
-
Homework: Ch 17 Homework A - Graded Score: 0 of 10 pts 4 of 92 complete SF17-4 (similar to) Assigned Media Hoosier Optical Company reported the following amounts on its balance sheet at December 31,...
-
QUESTION 3 7 pc For the following project, compute an EAA: Project A requires you an upfront payment of $257,165 and yearly payments of $50,889 for 14 years. Your cost of capital is 4.82%
-
Exerclse 3 . 6 ( Algo ) Schedules of Cost of Goods Menufectured and Cost of Goods Sold; Income Statement [ LO 3 - 3 ] Mason Company provided the following data for this year: Required: Prepare a...
Study smarter with the SolutionInn App