The demand for a firm's product is given by: Q = 40 – 2P. At what...

Question

Question

The demand for a firms product is given by: Q = 40 – 2P. At what values of Q is total revenue maximized? Just write the numb

business economics

Answer 1

Answer #1

2 Q = 40- 2p 20 4000 P = 40.0 P = 20-00 total Revenue (TR) = Pxo - | : ( 2 - 9.0 x TR = 200-0% for Maximizing TR, he need to

Answer 2

Similar Homework Help Questions

If Q = 400 – 2P, at what price is revenue maximized at? For the demand...

If Q = 400 – 2P, at what price is revenue maximized at? For the demand equation P = 36 - 2Q, what Price will maximize total revenue? If TC=40+6QTC=40+6Q and EP=−3EP=−3 what is the optimal price to be charged? If TC=75+15QTC=75+15Q and EP=−2EP=−2 is P=$30 the optimal price?
1) The market demand and supply are given by Q = 100 - 2P and Q...

1) The market demand and supply are given by Q = 100 - 2P and Q = 2P. Suppose a $1 per-unit tax is levied on sellers. What price do consumer pay now that this market is taxed? Answer to two decimal places. 2) The market demand and supply are given by Q = 100 - 2P and Q = 2P. Suppose a $3 per-unit tax is levied on sellers. What price do sellers receive net of taxes? Answer to...
Consider a monopolist firm facing an inverse demand curve given by P(Q) 2700-9Q. The firm's total...

Consider a monopolist firm facing an inverse demand curve given by P(Q) 2700-9Q. The firm's total cost is given by c(Q) 11,000+900Q (a) Show your work in solving for the firm's profit-maximizing quantity and price. What is (b) Plot this firm's revenue and total cost functions. Illustrate the profit-maximizing quantity (c) Now plot this firm's inverse demand, marginal revenue, and marginal cost curves. Il- the maximized value of profit? on this graph, as well as the firm's maximized profit level....

uppose the demand curve for a product is given by Q = 18 - 2P+1PS where...

uppose the demand curve for a product is given by Q = 18 - 2P+1PS where is the price of the product and Ps is the price of a substitute good. The price of the substitute good is $2.80. Suppose P 5050. The price elasticity of demand is -0.05. (Enter your response rounded to two decimal places) The cross-price elasticity of demand is 0.14. (Enter your response rounded to two decimal places.) Suppose the price of the good, P goes...
Consider a monopolist firm facing an inverse demand curve given by P(Q) 2700 9Q The firm's...

Consider a monopolist firm facing an inverse demand curve given by P(Q) 2700 9Q The firm's total cost is given by C() 11,000+9000 (a) Show your work in solving for the firm's profit-maximizing quantity and price. What is the maximized value of profit? (b) Plot this firm's revenue and total cost functions. Illustrate the profit-maximizing quantity on this graph, as well as the firm's maximized profit level (c) Now plot this firm's inverse demand, marginal revenue, and marginal cost curves....
4. (6 points) Suppose the Demand for baseballs is given by Q = 120 - 4P. a) What is the price elasticity of demand...

4. (6 points) Suppose the Demand for baseballs is given by Q = 120 - 4P. a) What is the price elasticity of demand when P= 10? b) At what price will Total Revenue be maximized? c) What is the firm's Marginal Revenue when the price is $12?

Answer the following questions based on the demand curve: Q = 100 – 2P Determine the...

Answer the following questions based on the demand curve: Q = 100 – 2P Determine the maximum value of Total Revenue Find the elasticity when revenue is maximized. Explain if you expected the answer. Find the equation of total revenue in terms of ‘Q’ Will a monopolist ever produce at a price less than 25? Explain.
4. (6 points) Suppose the Demand for baseballs is given by Q=120 - 4P. a) What...

4. (6 points) Suppose the Demand for baseballs is given by Q=120 - 4P. a) What is the price elasticity of demand when P=102 b) At what price will Total Revenue be maximized? c) What is the firm's Marginal Revenue when the price is $12?
A monopolist faces the following demand curve: Q = 260-2P Where Q is the weekly production...

A monopolist faces the following demand curve: Q = 260-2P Where Q is the weekly production and P is the price, measured in $/unit. The firm's cost function is given by C= 20 + 10Q+Q2. Assuming the firm maximizes profits, 1. (10 pts) Find the equation describing the marginal revenue (MR) curve. 2. (20 pts) What is the level of production (Q), price (P), and total profit (TT) per week? 3. (20 pts) If the government decides to levy a...

4. (6 points) Suppose the Demand for baseballs is given by Q = 120 – 4P. a) What is the price elasticity of demand when...

4. (6 points) Suppose the Demand for baseballs is given by Q = 120 – 4P. a) What is the price elasticity of demand when P= 10? b) At what price will Total Revenue be maximized? c) What is the firm's Marginal Revenue when the price is $12?