1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Oksana_A [137]
3 years ago
5

A monopoly firm maximizes its profit by producing Q = 500 units of output. At that level of output, its marginal revenue is $30,

its average revenue is $60, and its average total cost is $34.
At Q = 500, the firm's profit is:________.A. $13,000.
B. $15,000.C. $17,000.D. $30,000.
Business
2 answers:
Masteriza [31]3 years ago
6 0

Answer:

A) $13,000

Explanation:

maximum profit = (Q x Average revenue) - (Q x average total cost)

maximum profit = (500 x $60) - (500 x $34) = $30,000 - $17,000 = $13,000

  • marginal revenue = additional revenue generated by selling one more unit of output (we will not use it in this case)
  • average revenue = total revenue / total output
  • average total cost = total fixed and variable costs / total output
  • profit = total revenue - total costs
yarga [219]3 years ago
3 0

Answer:

A. $13,000

Explanation:

Marginal Revenue is a revenue which is received from each extra unit sold. Average Revenue of is a revenue which is from by each unit on average basis.

Monopoly firm receives maximum marginal revenue and while incurring minimum cost. It tries to maximize the marginal benefit.

Firm's profit = Quantity ( Average revenue - Average Total cost ) = 500 units ( $60 - $34 ) = 500 units x 26 = $13,000

You might be interested in
If an expansionary policy pushes output beyond the full employment level of gdp:
olga55 [171]
<span>The natural rate of unemployment will drop in this instance. By increasing spending and/or decreasing taxes, aggregate demand is boosted, leading to more people being employed to meet the demand. This moves the natural rate of employment out to a greater level than previously experienced.</span>
8 0
3 years ago
Beginning three months from now, you want to be able to withdraw $2,800 each quarter from your bank account to cover college exp
mr Goodwill [35]

Answer:

You will need to have $ 55,006.94

Explanation:

We need first to consider the following details according to the problem

We have a Annuity amount of $ 2900, a Rate(r)= 0.51%, and a Time(n)= 5 years (or 20 quarters ) .

To reach to the money that we would need to have in the bank today to meet the expense over the next four years we use the following formula:

PVA= annuity amount × [1 - (1 / (1 + r)n)] / r

PVA= $ 2900 x[ 1-{ 1/(1+0.0051)20)]/0.0051

PVA= $ 55,006.94

4 0
3 years ago
James Company began the month of October with inventory of $32,000. The following inventory transactions occurred during the mon
NARA [144]

Answer

The answer and procedures of the exercise are attached in the following archives.

Explanation  

You will find the procedures, formulas or necessary explanations in the archive attached below. If you have any question ask and I will aclare your doubts kindly.  

Download xlsx
3 0
3 years ago
Rick prepared financial statements for MegaCorp knowing that it was going to use his statements to apply for a loan with Big Ban
Ymorist [56]

Answer:

The correct answer is the option D: Both the foreseeable doctrine and the restatement doctrine.

Explanation:

On the one hand, the <em>foreseeable doctrine</em> dictates that there is a limit in the liability of party for those acts that he has done and that carry a risk of foreseeable harm. Therefore that this point of view establishes that a reasonable person would be able to understand and so to know when a certain action would bring certain damages to another party.

On the oher hand, the <em>restatement doctrine</em> establishes that there are a set of treatises on legal subjects that primarily are looking for to inform judges and lawyers about general principles of common law. And therefore that those treatises will help both the judge and the lawyers at the time of the trial when the person has to go to court.

3 0
3 years ago
Other things remaining​ equal, the law of demand says that higher prices will lead to a A. smaller quantity demanded and lower p
Yuri [45]

Answer:

The answer is A.

Explanation:

Other things remaining​ equal, the law of demand says that the higher the price, the lower the quantity demanded and the lower the price the higher the quantity demanded.

Suppose a good is being sold at $5 and 20 quantities are being demanded, if the price increases to $6, lesser of that goods should be demanded

7 0
3 years ago
Other questions:
  • Georgia Crane is allowed to create her own work hours on a limited basis. She must be a work from 9 a.m. to 11 a.m. and 1 p.m. t
    15·1 answer
  • what advise would you give to a supervisor using the theory x approach to leadership and has been meeting with much opposition?
    11·1 answer
  • If Gerry makes a deposit of $1,500 at the end of each quarter for five years, how much will he have at the end of the five years
    7·1 answer
  • What is not Likly to be a major problem for business during a period of ongoing inflation?
    11·2 answers
  • The production possibilities frontier provides an illustration of the principle that
    5·1 answer
  • The Rolling Department of Oak Ridge Steel Company had 300 tons in beginning work in process inventory (25% complete) on July 1.
    9·1 answer
  • Given D: Annual use of a particular item, in number of items per year Q: Number of items ordered in one purchase order, in units
    10·1 answer
  • Sandoval needs to determine its year-end inventory. The warehouse contains 33,000 units, of which 4,300 were damaged by flood an
    13·1 answer
  • A financial statement is a summary of all the financial transactions that have occurred over a particular period. Also financial
    6·1 answer
  • Majestic Theaters has plans to build a new $30 million movie theater and intends to finance this project through the sale of add
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!