A major software developer has estimated the demand for its new personal finance software package to be Q = 1,000,000P-2 while the total cost of the package is C = 10,000 250. If this firm wishes to maximize profit, what percentage markup should it place on this product where percentage markup is defined as 100*(sale price - marginal cost)/marginal cost? a. b. C. d. e. 90% 100% 20% 40% 250%
Q: 59 of 90 Which one (1) of the following is a "mortgagor" with respect to insurance? The named…
A: A mortgage is a legal agreement or a financial contract between a borrower (known as the mortgagor)…
Q: The monthly market for U.S. steel production (in millions iron ore, a critical input in the…
A: Market equilibrium: At the market equilibrium demand equals to supply. Or at market equilibrium…
Q: 1 Vehicle purchase. A student living in Lower Hutt is considering the purchase of a new vehicle. An…
A: a) Decision Variable (D): This variable represents the choice of the type of vehicle, which can be…
Q: Now, suppose another buyer, Neha, enters the market for loft houses, and her willingness to pay is…
A: Market demand rate depends heavily on the income of an individual and their preferences. The demand…
Q: You are preparing to market this year's calf crop and want to decide if you would like to…
A: The sum paid upon selling the animals is known as the final sale price. The monetary value attached…
Q: Banks acquire $50 billion in new reserves, and the reserve requirement ratio is 6%. What will be the…
A: Reserves, in economics and finance, typically refer to the funds or assets held by financial…
Q: what is the art majors salary in 2011? 2012?
A: IntroductionThe Consumer Price Index (CPI) is a measure of inflation used by economists to assess…
Q: Our discussion of Cournot in the lecture focused on the case with homoge- nous products. In many…
A: Since you have posted a question with multiple sub parts, we will provide the solution only to the…
Q: In a simple model of the supply and demand for pizza, when aggregate income increases, the price of…
A: Demand refers to the consumer's desire to buy any commodity or service. There exists a negative…
Q: Fill in the top row of the following table to indicate Kamal's and Nick's output of each good.…
A: Calculating the values before tradePersonProductQuantity ProducedPriceTotal ValueKamalY750…
Q: Belinda loves chocolate and always thinks that more is better than less. Belinda thinks that a few…
A: An indifference curve is a graphical representation used to depict the different combinations of two…
Q: Now, Assume that Peruvian government responds by using monetary policy to stabilize output after a…
A: Monetory policy refers to the policy made by central monetary authority to stabilise growth and…
Q: Suppose there are two countries Alpha and Beta with the the following values Alpha Beta GDP $20,494…
A: Given,GDPPopulationLabor ForceLabor Force ProductivityAlpha$20,494 billion327 million159…
Q: During a federal election campaign, the incumbent argues that he should be re-elected because GDP…
A: Real GDP per person is calculated by dividing the total economic output of the country by the total…
Q: 58 of 90 Your insured whose automobile is being used for pleasure purposes informs you he/she has…
A: Insurance is a financial arrangement or contract between an individual or entity (the insured) and…
Q: An economy's production possibilities frontier is fixed in the long run. True False
A: We need to determine the conditions under which a production possibilities frontier (PPF) shifts…
Q: 50 of 90 A local builder offers to place with you insurance on every house he/she builds while it is…
A: RIBO means Registered Insurance Brokers of Ontario. RIBO is the self-regulatory body that governs…
Q: how to know if the business is financially healthy by determining the projected monthly operating…
A: Monthly operating expenses are the sum of the variable and fixed costs. In this case, the projected…
Q: The graph below represents per-worker production functions for the same country. Answer the…
A: "As stated by client only part C and D is solved." The production function per worker highlights the…
Q: Q₁0 Q₂ 120 B The graph above shows the potential ways to alloc with a total supply of 120 million…
A: A non renewable resource is to be distributed among the two generations of a person.Total Availablle…
Q: Doon Company incurred the following costs while producing 580 units direct materials. $14 per unit…
A: Operating income signifies the overall finances that a company earns from selling a particular…
Q: What is the demand curve? What does the law of demand say?
A: A demand curve is a graphical representation showing the relationship between the price of a product…
Q: Given the market for petrol in the UK illustrate the impact on the equilibrium price and quantity of…
A: Demand is amount of a good that consumers are willing and able to purchase at different…
Q: Nataraj (2007) finds that a 100% increase in the price of water for heavy users in Santa Cruz caused…
A: Revenue is the total income generated by a business or organization from its primary activities,…
Q: a) What is meant by MRP (marginal revenue product) with respect to property development? Explain how…
A: Marginal Revenue Product (MRP) is used to analyze the additional revenue generated by employing one…
Q: Instructions: Round your responses to the nearest dollar. a. How much more. output does the $3.900…
A: Macroeconomic monitoring will remain critical since it determines the economy's final expansion path…
Q: Consider the following Table representing the number of hours to make 1 unit of Soybeans and…
A: Absolute advantage is the ability of a country to produce a good or service more efficiently than…
Q: Question 2 The demand and supply of widgets is given below. Q is quantity, and P is price of widgets…
A: The market price at which producers are willing to offer the same amount of a good or service as…
Q: LABOR-INTENSIVE GOODS 10 9 8 1 0 0 1 2 3 4 7 CAPITAL-INTENSIVE GOODS 5 6 8 Once trade begins, the…
A: Production possibility frontier shows different combination of two good or services that can be…
Q: Angelina sues Brad over a breach of contract. After the jury was chosen, Angelina made a statement…
A: Angelina is suing Brad over a breach of contract.After the jury was chosen, both Angelina and Brad…
Q: Suppose that a market is described by the following supply and demand equations: Qs = 2P 2o240-P The…
A: Equilibrium Price: This is the price at which the quantity of a good or service that producers are…
Q: A) Aaryan is given some market research about home tuition. In particular, the demand curve as a…
A: Profits are revenue minus the costs.Revenue is price times quantity. The revenue function provides…
Q: The cost to manufacture a firing system component used in a rapid deployment missile defense system…
A: Cost to manufacture fire system = $23000Increase in cost per year = 2% or 2%/12 = 0.17%Time = 5…
Q: en is a monopoly beer producer and distributor operating in the hypothetical economy of Lightington.…
A: Monopolist maximises profit by producing at a quantity level where marginal cost equals marginal…
Q: 0 10 20 30 40 50 REFR 37. Assuming robots represents capital goods and beer consumer goods, and the…
A: The production possibility frontiers show the different combinations of two goods that can be…
Q: Economics of Education Problem Set 1 1. When economists discuss education markets, what do they…
A: Economics is a social science that studies how individuals, businesses, governments, and societies…
Q: Given a loan for $58,000.00 at an interest rate of 16.15% for 5 years, determine your annual payment…
A: The objective of this task is to determine the annual payment amount for a loan of $58,000.00 with a…
Q: Beginning from a demand-supply model in equilibrium. Graphically illustrate and explain the…
A: Complementary goods are products that are usually consumed or used together. In other words, if you…
Q: Hours Needed to Make 1 in 2400 Hours Car Airplane Cars Airplanes Japan 30 150 80 16 Korea 50 150 48…
A: Comparative advantage is ability of a country to produce goods and services at a lower opportunity…
Q: Consider the wage negotiations between Cricket Australia (CA) and the union that represents the…
A: Cricket Australia (CA) and the union (U) are negotiating how to split a $100 surplus.CA makes the…
Q: A producer has a comparative advantage in a good if it is the most efficient producer of this good.…
A: It can be defined as a situation in which a particular individual or a producer is able to produce a…
Q: Suppose your utility over money (x) is given by u(x)=x(1-1), where r-2/3. You are one of two bidders…
A: Auctions are a useful tool in economics for determining asset value and redistribution. They improve…
Q: Canada is an open economy that is currently in a recessionary output gap. (a) Draw a correctly…
A: When the actual degree of economic output is lower than the economy's potential output, it creates a…
Q: The Department of the Navy estimates that the learning rate for shipbuilding is 80%. Assuming the…
A: Learning rate = 80%Time taken by first ship to build = 62 months Cumulative units of production = 12…
Q: Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care…
A: Budget allocation refers to providing financial aid to the teams, so as to maximise the productivity…
Q: Wolfgang is a typical producer in a perfectly competitive piano industry (.e, all other producers of…
A: Variable costs in economics are expenses that change in direct proportion to the level of production…
Q: Refer to Figure 5-1. With reference to Graph A, at a price of $10, total revenue equals: Price $10--…
A: Total Revenue = P*Q ; P : Price , Q : Quantity Demanded
Q: A friend of yours is considering two movie streaming services. Provider A charges $120 per year for…
A: The price paid by the consumer is less than the price they are willing to pay referred to as…
Q: The Coase Theorem states that: O As long as property rights are well defined and no transaction…
A: The Coase Theorem is a theorem in economics that expresses that, within the sight of externalities,…
Q: QUESTION 26 wine 90 80 70 60 50 40 30 20 10 PPF Portugal CPF 0 0 10 20 30 40 50 60 cloth wine 90 80…
A: PPF refers to the curve on a graph that shows the possible units that can be produced of 2 goods if…
Step by step
Solved in 3 steps
- Central Grocery in New Orleans is famous for its muffaletta, a large round sandwich filled with deli meats and topped with a tangy olive salad. Suppose the following table represents cost and revenue data for Central Grocery. Muffaletta Sold per Day Price (P) Total Revenue (TR) Marginal Revenue (MR) Total Cost (TC) Marginal Cost (MC) Average Total Cost (ATC) Profit 0 $15 $12 1 14 18 2 13 20 3 12 21 4 11 23 5 10 26 6 9 30 7 8 35 8 7 42 9 6 52 10 5 78 Fill in the table What are the profit-maximizing price and quantity, and what…Tim Marlow, the owner of The Clock Works, wanted to know how many clocks he must sell in order to cover his fixed cost at a given price. Tim knew that he had a fixed cost of $20,000 for equipment, taxes, and a bank loan. He also had a unit variable cost of $20 per clock for labor, materials, and promotional costs. If the price Tim charges for each of his clocks is $40, what is his break-even point quantity?A company produces very unusual CD's for which the variable cost is $ 15 per CD and the fixed costs are $ 50000. They will sell the CD's for $ 79 each. Let a be the number of CD's produced. Write the total cost C as a function of the number of CD's produced. C =$ Write the total revenue R as a function of the number of CD's produced. R=$ Write the total profit P as a function of the number of CD's produced. P=$ Find the number of CD's which must be produced to break even. The number of CD's which must be produced to break even is Question Help: Video Submit Question
- PakPerfect Inc. estimates equation of its total costs of production as TC = 500 + 10Q + 5Q2 and market demand for its product as Qd = 105 – (1/2) P, where Q is quantity in units and P is price in Pak$. Write the equations of the firm’s costs, as a function of Q: Average Total Cost ATC Average Variable Cost AVC Average Fixed Cost AFC Given above costs can you determine what will be the firm’s production in Stage 1? What is the breakeven price and breakeven quantity for this firm? What is the shutdown price and quantity for this firm? Draw the firm’s costs in a graph as per your determination in (a). Label the breakeven and shutdown price and quantity using information in (b) and (c) above. Given the market price of Pak$ 50 how many units should the firm produce? how many firms are competing in this market in short-run? How many firms will be in the industry in the long-run? How do you interpret the profit or loss condition of PakPerfect? Use a two-panel graph of the Market and…A startup software company has indicated its cost, c(x), and revenue, f(x), as given below, such that x is the number of lines of programing code (units in 1000 lines). c(x) = 80000 - 2(x-200)2 f(x) = (x-10)3 + (x+10)2 Find the marginal cost analytically, and draw its graph Find the marginal revenue analytically, and draw its graph Solve for the x point where marginal cost is equal to marginal revenue analytically. Comment why is this point significant analytically. Write the profit function and draw its graph Is the profit function concave up or concave down?PakPerfect Inc. estimates equation of its total costs of production as TC = 500 + 10Q + 5Q2 and market demand for its product as Qd = 105 – (1/2) P, where Q is quantity in units and P is price in Pak$. a- Write the equations of the firm’s costs, as a function of Q: Average Total Cost ATC Average Variable Cost AVC Average Fixed Cost AFC b- Given above costs can you determine what will be the firm’s production in Stage 1? c- What is the breakeven price and breakeven quantity for this firm?
- What is the profit maximization for apex firm if we have the following data quantitiy /unit ={0,1,2,3,4,5,6,7,8,9,10} total variable cost =[0,100,180,220,300,390,500,640,800,1000,1250} 2. If the market price dropped to $80, what is the profit-maximizing level of output? What is Apex’s profit (or loss) in this case?3. If the market price dropped further to $40, what is the profit-maximizing level of output? What is Apex’s profit (or loss) in this case?4. Comment on your answers to parts (2) and (3)A local newspaper currently has 84,000 subscribers at a quarterly charge of $30.Market research has suggested that if the owners raise the price to $32, they wouldlose 5,000 subscribers. Assuming that subscriptions are linearly related to theprice, what price should the newspaper charge for a quarterly subscription tomaximize their revenue?a) Find the cost function (Hint: find slope and use point-slope form to find thecost function) b) Find the revenue function c) Find the maximum revenue d) Find the profit functionAVC=10-0.03Q+0.00005Q2TFC=60If P=10, what is the profit maximizing level of output?
- KidzPoses Inc., a profit-maximizing business, is the only photography business in town that specializes in portraits of small children. James, who owns and runs KidzPoses, expects to encounter an average of eight customers per day, each with a reservation price (shown in the following table). Assume James has no fixed costs, and his cost of producing each portrait is $12. Customer Reservation Price ($ per photo) 1 50 2 46 3 42 4 38 5 34 6 30 7…Suposse a munufacture of widgets has a fixcost of $2500, a variable cost of $30 per widget ans sell 100 widgets for 4,500. Find the cost function C(n) Find the revenue function R(n) Find the profit function P(n)Suppose the imaginary company of Roobek is a small, Reno-based American apparel manufacturer specializing in athleisure. The following table presents the brand’s total cost of production at several different quantities. Fill in the remaining cells of the following table. Quantity Total Cost Marginal Cost Fixed Cost Variable Cost Average Variable Cost Average Total Cost (Pairs) (Dollars) (Dollars) (Dollars) (Dollars) (Dollars per pair) (Dollars per pair) 0 120 — — 1 210 2 270 3 315 4 380 5 475 6 630