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

Question

1 Approved Answer

QUESTION 3 SportsMart is a sports apparel department store in Hayward. The manger has estimated the weekly demand function to be P = 25 -

image text in transcribed
QUESTION 3 SportsMart is a sports apparel department store in Hayward. The manger has estimated the weekly demand function to be P = 25 - 0.001Q where P is the price and Q is the output per week. The firm's total costs are given by TO = 4000 + 130 + 0.0020- and its marginal cost function is given by MC = 13 + 0.004Q. What is the firm's profit-maximizing price? (Write answer without the dollar sign.)

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_2

Step: 3

blur-text-image_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

Public Relations

Public Relations

Authors: Tom Kelleher

1st Edition

0190201479, 9780190201470

More Books

Students also viewed these Economics questions

Question

★★★★★
The article "An Automatic Visual System for Marble Tile Classification" (L. Carrino, W. Polini, and S. Turchetta, Journal of Engineering Manufacture, 2002:1095-1108) describes a measure for the shade...

Answered: 1 week ago

Question

★★★★★
understand the function and limitation of different experimental designs

Answered: 1 week ago

Question

★★★★★
Find a published evaluation study. Critically analyze the study using the questions for critical evaluation of evaluation studies listed in this chapter. Summarize the strengths and weaknesses of the...

Answered: 1 week ago

Question

★★★★★
The previous two problems suggest that using CFLs is a good idea from a purely financial perspective unless you live in an area where power is relatively inexpensive, but there is another wrinkle....

Answered: 1 week ago

Question

★★★★★
How many elements does the set Plu, b,a,dll have where a and bare distinct elements? Pls the power set) 1 00 6. 16 CS d. 32 Jump to ity Follow Us gal Daya Mohammed Ant od ege of Business and Science...

Answered: 1 week ago

Question

★★★★★
View Policies Current Attempt in Progress Sandhill Co. sells office equipment on July 31, 2022, for $22,430 cash. The office equipment originally cost $77,870 and as of January 1, 2022, had...

Answered: 1 week ago

Question

★★★★★
Your company estimates that 5% of this month's $100,000 Sales on account will eventually be written off. The entry should be: Debit Bad Debt Expense, $5,000; Credit Bad Debt Allowance, $5,000 Debit...

Answered: 1 week ago

Question

★★★★★
Suppose we want to figure out what the biggest magnitude earthquake was in 2019, but we only have our representative sample of 200. Let's see if trying to find the biggest magnitude in the population...

Answered: 1 week ago

Question

★★★★★
In the figure below, a stainless steel wire is supporting a weight, W. The Yield Strength and Young's Modulus for stainless steel (Grade 304) is 205 MPa and 190 GPa, respectively. What is the maximum...

Answered: 1 week ago

Question

★★★★★
Keelan visited a local accounting office and gave a demonstration to the accountants of a software product he was selling that streamlined the tax filing process. The accountants were excited at the...

Answered: 1 week ago

Question

★★★★★
P15-6- EOQ, reorder point, and safety stock Outdoor Living Manufacturers uses 1,000 units of a product per year. The fixed cost is $28 per order, while the carrying cost is $5 perunit per year. The...

Answered: 1 week ago

Question

★★★★★
A contract will pay you $ 5 0 0 0 per year every other year for the next 3 0 years. That is , since today is time 0 , the contract will pay you $ 5 0 0 0 in year 2 , 4 , 6 , . . . , 2 8 , 3 0 . The...

Answered: 1 week ago

Question

★★★★★
4. Give examples from your everyday life where the process affects the result, but where the result also affects the process.

Answered: 1 week ago

Question

★★★★★
6. Give examples of circular patterns in a communication situation that you have participated in, where element A affects B, and B affects A.

Answered: 1 week ago

Question

★★★★★
3. Find examples from your everyday life of people or situations that fit the Ithaca Syndrome.

Answered: 1 week ago

Previous Question Next Question