FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

please help!!! In this problem, p and C are in dollars and x is the number of units. A monopoly has a total cost function

image text in transcribed

please help!!!

image text in transcribed
In this problem, p and C are in dollars and x is the number of units. A monopoly has a total cost function C = 1,000 + 108x + 12x2 for its product, which has demand function p = 324 - 3x - 2x2. Find the consumer's surplus (in dollars) at the point where the monopoly has maximum profit. (Round your answer to the nearest cent.) $

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

Mathematical Applications for the Management Life and Social Sciences

Mathematical Applications for the Management Life and Social Sciences

Authors: Ronald J. Harshbarger, James J. Reynolds

11th edition

9781337032247, 9781305465183, 1305108043, 1337032247, 1305465180, 978-1305108042

More Books

Students also viewed these Mathematics questions

Question

★★★★★
Suppose you are the manager of Gregs Tunes, Inc. The company needs a bank loan in order to purchase music equipment. In evaluating the loan request, the banker asks about the assets and liabilities...

Answered: 1 week ago

Question

★★★★★
1. Eric Brinker of JetBlue noted that the database developed during the crisis had not been needed before because the company had never experienced a meltdown. What are the risks and benefits...

Answered: 1 week ago

Question

★★★★★
Are the constructs that are used developed within an appropriate cultural context?

Answered: 1 week ago

Question

★★★★★
An 8-molar hydrochloric acid solution [SG = 1.12, Cp = 2.76 J/ (gC)] is produced by absorbing hydrogen chloride [HC1 (g)] in water. Liquid water enters the absorber at 25C and gaseous HCJ is fed at...

Answered: 1 week ago

Question

★★★★★
When a bank has nowhere else to turn when it needs to improve its liquidity needs, who can it turn to for help? Select one: National Credit Union Administration Federal Reserve Discount Window A...

Answered: 1 week ago

Question

★★★★★
Activity cost estimates are essential because? * Othey help to reduce cost uncertainty Othey assist in breaking down projects Othey can later be rolled up to higher levels to create the project...

Answered: 1 week ago

Question

★★★★★
On January 22, Ireland Corporation issued for cash 33,000 shares of no-par common stock at $35. On February 14, Ireland issued at par value 4,000 shares of preferred 7% stock, $50 par for cash. On...

Answered: 1 week ago

Question

★★★★★
Problem 3 Complete the following perpetual inventory form. Perpetual Inventory Total Product Name: Purchase Unit Size: Carried Forward: Date In Out 1/7 3 Balance 1/9 2 1/10 1 1/12 5 1 1/15 2

Answered: 1 week ago

Question

★★★★★
Assets Current assets Cash Marketable securities Accounts receivable Inventories Prepaid expenses Total current assets Plant and equipment (net) Intangibles Total assets Liabilities and Stockholders'...

Answered: 1 week ago

Question

★★★★★
Please prepare a presentation (ppt) based on the following descriptions- upload here General requirements: Topic: Introduction and analysis of Knowledge Managementpractice of Nokia. The presentation...

Answered: 1 week ago

Question

★★★★★
Find 1.Ownership structure 2.Headquarters, 3.Music Content, 4 Music Content type producers, 5 Example of music, For HBO Max, Netflix, Prime Video each Ques 2 Please find 1.Ownership structure...

Answered: 1 week ago

Question

★★★★★
Debra wants to deposit money each year for the next three years and each deposit to have $5,000 in real dollars currently and the inflation rate is 2.5% per year and the nominal interest rate is...

Answered: 1 week ago

Question

★★★★★
What is an exchange rate for currency? What is the dif ference between a spot rate and future rate?

Answered: 1 week ago

Question

★★★★★
Summarise adoption patterns across the continents.

Answered: 1 week ago

Question

★★★★★
Identify the different elements of an organisations macro-environment that impact on an organisations digital business and digital marketing strategy

Answered: 1 week ago

Previous Question Next Question