Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Sep 27, 2024

8.Given an inverse demand curve P = 6 - 1/2q, the marginal revenue where total revenue is maximized is: a.$0 b.$6 c.$0.50 d.cannot be determined

8.Given an inverse demand curve P = 6 - 1/2q, the marginal revenue where total revenue is maximized is:

a.$0

b.$6

c.$0.50

d.cannot be determined

9.Given a Total Revenue function = 6q - 0.50q²; the quantity where total revenue is maximized is:

a.0

b.6

c.3

d.none of above

Step by Step Solution

There are 3 Steps involved in it

Step: 1

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

Step: 3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Managerial Economics and Business Strategy

Authors: Michael R. baye

7th Edition

978-0073375960, 71267441, 73375969, 978-0071267441

More Books

Students also viewed these Economics questions

Question

Discuss and describe laws related to immigration.

Answered: 1 week ago

Question

★★★★★

Prepare journal entries for the following selected transactions of Dulcinea Company for 2012. 2012 Dec. 13 Accepted a $ 9,500, 60-day, 8% note dated December 13 in granting Miranda Lee a time...

Answered: 1 week ago

Question

★★★★★

8.Given an inverse demand curve P = 6 - 1/2q, the marginal revenue where total revenue is maximized is: a.$0 b.$6 c.$0.50 d.cannot be determined 9.Given a Total Revenue function = 6q - 0.50q 2 ; the...

Answered: 1 week ago

Question

★★★★★

Points: 0 of 1 The owner of a computer repair shop has determined that her daily revenue has mean 57200 and standard deviation $1200. The dalyver ons for the ned 30 days will be monitored. What is...

Answered: 1 week ago

Question

★★★★★

A retrospective associational study examined the medical utilization of homeless veterans receiving treatment in a Veterans Affairs health care system (LePage, Bradshaw, Cipher, & Hooshyar, 2014). A...

Answered: 1 week ago

Question

★★★★★

Which one of the following technologies is not directly related to Big Data? Group of answer choices Spark Hadoop MapReduce OLAP

Answered: 1 week ago

Question

★★★★★

Mr. Brown just won the lottery. The lottery will pay Mr. Brown 6 annual payments, with the first payment occurring today (Year 0) and the last payment occurring 5 years from today (Year 5). Todays...

Answered: 1 week ago

Question

★★★★★

A golf ball is struck across a flat fairway at an angle of 60 with an initial speed of 135ft/s. a.). Write a set of parametric equations for the motion of the golf ball. b.). Determine how long the...

Answered: 1 week ago

Question

★★★★★

At December 31, 2023, Halifax Servicing's balance sheet showed capital asset information as detailed in the schedule below. Halifax calculates depreciation to the nearest whole month. 1 There have...

Answered: 1 week ago

Question

★★★★★

=+ c. A friend proposes a get-rich-quick scheme: borrow from a U.S. bank at 8 percent, deposit the money in a Canadian bank at 12 percent, and make a 4 percent profi t. Whats wrong with this scheme?

Answered: 1 week ago

Question

★★★★★

=+ b. What can you infer about the expected change in the exchange rate between the Canadian dollar and the U.S. dollar?

Answered: 1 week ago

Question

★★★★★

=+ d. What happens to Oceanias trade balance?

Answered: 1 week ago

Previous Question Next Question