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NemiM [27]
2 years ago
14

Suppose a monopoly firm produces bicycles and can sell 10 bicycles per month at a price of $700 per bicycle. In order to increas

e sales by one bicycle per month, the monopolist must lower the price of its bicycles by $50 to $650 per bicycle. The marginal revenue of the 11th bicycle is Group of answer choices -$50 None of the Answers are Correct. $7,150 $150 $50
Business
1 answer:
ELEN [110]2 years ago
6 0

The marginal revenue of the 11th bicycle is $150.

Calculation of Marginal revenue:

Change in Total Revenue = Total Revenue – Revenue figure before the additional unit was sold

Marginal revenue  = (11*700) - (10*701)= $150.

<h3>What is Marginal revenue ?</h3>

Marginal revenue is the rise in income that occurs from the sale of one extra unit of product. While marginal revenue can continue constantly over a particular level of output, it follows the law of diminishing returns and will ultimately decrease as the output level increases. Ideally, ambitious firms proceed to produce output until marginal revenue approaches marginal cost.

The formula for calculating marginal revenue is:

Marginal Revenue= Change in Revenue/ Change in Quantity

Marginal Revenue = (Current Revenue - Initial Revenue) / (Current Product Quantity - Initial Product Quantity)

Learn more about Marginal Revenue on:

brainly.com/question/13251693

#SPJ4

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A marketing company wants to determine which cola beverage is most preferred by consumers. A group of participants tastes Cola A
Helga [31]

Answer:

C) 2 x 2 mixed factorial

Explanation:

A 2 x 2 mixed factorial design refers to a research study that uses 2 independent variables (can be more, e.g. 3 x 3). One of the variables is a within-subjects factor, in this research the flavor is the within-subjects factor. The other variable is a between-groups factor, the between-groups in this research are the two groups of participants.

6 0
3 years ago
Four investment bankers need to cross a bridge at night to get to a meeting. They have only one flashlight and 17 minutes to get
RideAnS [48]

Answer:

Correct Answer:

The correct sequence of crossing include:

<em>First, the Analyst takes the flashlight and crosses the bridge with the Associate. This takes 2 minutes. </em>The Analyst then returns across the bridge with the flashlight taking 1 more minute (3 minutes passed so far). The Analyst gives the flashlight to the VP and the VP and MD cross together taking 10 minutes (13 minutes passed so far).

The VP gives the flashlight to the Associate, who recrosses the bridge taking 2 minutes (15 minutes passed so far). The Analyst and Associate now cross the bridge together taking 2 more minutes.<em> Now, all are across the bridge at the meeting in exactly 17 minutes.</em>

<em></em>

Explanation:

The above is the only logical way through which all of them could be able to cross the bridge while still arriving to the meeting at/on the exact time.

6 0
3 years ago
In a market economy, a. the allocation of scarce resources determines prices and prices, in turn, determine supply and demand. b
user100 [1]

Answer:

<h2>In a market economy,the impact of supply and demand determines the prices of goods and services which in sequence influence the allocation of economy's scarce resources.Hence,the correct answer wold be option b.</h2><h2 />

Explanation:

In a market economy,much of the economic and commercial activities such as production,investment,allocation,consumption of goods and services are governed by their market prices which are determined completely by the free forces of supply and demand in the economy.In a market economic system,the factors or inputs of production are owned and allocated by the independent or private business organisations or firms with limited government or state control over the means of production.Majority of the commodity and service markets are free of any external state or government intervention and operate freely based on the movements and fluctuations of the market prices of goods and services which are determined by the changes in market demand or supply.Therefore,economic allocation or arrangements of goods and services in a market economy is mostly determined by the free interaction of demand and supply

4 0
3 years ago
Lieutenant Commander Data is planning to make his monthly (every 30 days) trek to Gamma Hydra City to pick up a supply of isolin
nadezda [96]

Answer:

219.57 units

Explanation:

Given :

Daily demand, d = 7 per day

Standard deviation, = 2 per day

Service probability = 98%

Total number of days per week = 7

Lead time , L = 3 days

On hand inventory, I = 35

Now calculating the optimal order quantity by using the given formula,

$q=d(T+L)+ z \ \sigma_{r+L}-I$   .............(i)

First, we will find out the value of  $\sigma_{r+L}$ and z.

Therefore,

$\sigma_{r+L}=\sqrt{(30+3)(2)^2}$

        $=\sqrt{132}$

       = 11.48

Now the value of z can be found out from the z-table,

Z value for 98% service level = 2.054

Now putting the value of $\sigma_{r+L}$ and z in equation (i), we get,

$q=d(T+L)+ z \ \sigma_{r+L}-I$  

   = (7)(30+3)+(2.054)(11.48) - 35

   = 231 + 23.57 - 35

   = 219.57 units

So the optimal number of the units required to be order = 219.57 units

8 0
2 years ago
Give definitions of business enterprises​
Alinara [238K]

Answer:

efinition. Business enterprise means a firm, sole proprietorship, partnership, association, corporation, company, or other business entity of any kind including, but not limited to, a limited liability corporation, incorporated professional association, joint venture, estate, or trust.

Explanation:

8 0
3 years ago
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