Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

A large wooded desk company has a fixed cost of $900,000 per month. The variable cost per desk is $131.50. The quantity of desks the

A large wooded desk company has a fixed cost of $900,000 per month. The variable cost per desk is $131.50. The quantity of desks the company sell per month is determined by the demand function Q = 12,000 - 20p, where p is the price per desk. A. The profit-maximizing quantity is _________. B. The profit-maximizing price the firm should charge per desk is _________. C. The Total Revenue (TR) at the profit-maximizing quantity and price is ________. D. The Total Cost (TC) at the profit-maximizing quantity is _________. E. The profit () the firm realizes at the profit-maximizing price and quantity is ______. F. The lower bound (QL) and upper bound (QU) for the range of profitable demand is _______ and _________

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

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

Step: 2

blur-text-image

Step: 3

blur-text-image

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

Principles Of Macroeconomics

Authors: N Gregory Mankiw

7th Edition

1285165918, 9781285165912

More Books

Students also viewed these Economics questions

Question

Mortality rate

Answered: 1 week ago

Question

Armed conflicts.

Answered: 1 week ago