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VashaNatasha [74]
3 years ago
6

8. Suppose that the demand for bentonite is given by Q = 40 − 0.5P, where Q is in tons of bentonite per day and P is the price p

er ton. Bentonite is produced by a monopolist at a constant marginal and average total cost of $10 per ton. How much profit is earned per day if the profit-maximizing quantity of bentonite is sold at the profit-maximizing price?
Business
1 answer:
Keith_Richards [23]3 years ago
3 0

Answer:

The total profit is  612.5

Explanation:

First we need to find the profit maximizing quantity. Since the monopolist faces the entire demand his profit (\Pi)equation would be

\Pi=Q\times P- 10 Q

where PxQ is his revenue and 10Q is his total cost.

We can replace P in the above equation from the equation demandQ=40-\frac{P}{2}\rightarrow P=80-2Q

Then

\Pi=Q\times (80-2Q)- 10 Q=80Q-2Q^2-10Q

taking derivatives with respect to Q

\frac{\partial \Pi}{\partial Q}=80-4Q-10=0

then Q=17.5 and P=45.

The total profit is then 612.5

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Answer:

The statement is: True.

Explanation:

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3 years ago
If the price index has a value of 122 then the inflation rate during the past year was 22%. True or False
Lyrx [107]
If I am correct it is true
8 0
3 years ago
Adriana Corporation manufactures football equipment. In planning for next year, the managers want to understand the relation bet
irga5000 [103]

Answer:

Adriana Corporation

Using the High and Low method the Variable and Fixed portions of the Total Cost is:

Fixed Costs = $247,420

Variable Costs = $39.50 Per unit x 8,020 Machine Hours = $316,790

B. at an average of 7,500hrs Machine hours, the estimated Overhead costs = $247,420 x (39.50 x 7,500)

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Explanation:

The High and Low Method is a costing method which attempts to split the mix of Fixed and Variable costs in a mixed Total cost of production by looking at one element of variability (in this case Machine Hours)

It is a subjective approach, however simple to calculate. Other method is the regression analysis, which is more complex in comparison to the high and Low

The attached excel file shows how we derived the Variable and Fixed Costs element of the Overhead Costs

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Download xlsx
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3 years ago
If you were to log onto www.census.gov and click on​ "Foreign Trade," then click on​ "Statistics," and finally on​ "State Export
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Answer:

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Even though exists a lot of debate surrounding the benefits of NAFTA to the US, trade agreements tend to increase more than proportionally the commercial exchange between parties. In this case, Canada and Mexico are both parts of NAFTA, so being the most important commercial partners of Ohio should not be a surprise.

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