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BlackZzzverrR [31]
3 years ago
9

The Grange is a firm in a monopolistically competitive market that sells farm implements. The firm collected the data below to d

etermine the profit-maximizing price and quantity at which to sell. Using the data, what is the profit-maximizing price and quantity at which the Grange company should sell its product?
Quantity Price Total Revenue Marginal Revenue Total Cost Marginal Cost
2 $21 $42 $21 $0 $30
4 $18 $72 $15 $64 $2
6 $16 $96 $2 $72 $4
8 $14 $112 $8 $88 $8
10 $12 $120 $4 $108 $10
2 $10 $120 $0 $32 $12
4 $8 $112 $4 $160 $14
Business
1 answer:
ser-zykov [4K]3 years ago
5 0

Answer:

The profit-maximizing price is $14, and the profit-maximizing quantity is 8.

Explanation:

This is because for a monopolistically competitive firm, the profit-maximizing quantity occurs where marginal revenue equals marginal cost. What the firm does is looking for the point in the demand curve that is exactly above the marginal cost-marignal revenue intersection, and charges the corresponding price and quantity.

We can see that for the quantity of 8, and the price of $14, both marginal revenue and marginal cost are $8, meaning that these are the quantity and price that are profit-maximizing.

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Based on historical perspective, the age range of the early game designers is between <u>40 to 60years old.</u><u> </u>Also, the gender for which the games were being designed is <u>male</u>.

<h3>History of Game Designs.</h3>

The history of game designs can be traced to William Higinbotham, a Physicist who created the first video game in 1958 at the age of 48 years.

William Higinbotham created the first video game during the Brookhaven annual visitors day to lighten the exhibition show.

The video game he created was tennis, known as "Tennis for Two," and the men in attendance played it.

Hence, in this case, it is concluded that the game designers were <u>men</u>, and they are in the age range of <u>40 to 60 years</u>.

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6 0
2 years ago
What country first began to dismantle its welfare state? What was put in its place?
ANTONII [103]
Thank you for posting your question here at brainly. I hope the answer will help you. Feel free to ask more questions.

What country first began to dismantle its welfare state? <span>Chili. Democracy was restored.

</span>What was put in its place? <span>A pension plan replaced welfare.</span>
5 0
3 years ago
What can you suggest to warner Edwards in terms of marketing strategy
inessss [21]

Answer:

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I would suggest that only advertisement doesn't make people to buy it.

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An industry leader may be joining the project team and can potentially provide additional expertise. What strategies should the
lesya692 [45]

Answer:

1) Finalizing Project Details

2) Setting Clear Expectation

3) Choosing the right team and system

4) Defining milestones

5) Establishing clear communication

6) Managing project risks

7) Avoiding scope creep

8) Evaluating the project after compilation

Explanation:

The project manager is responsible for achieving the project objectives. The main objectives of project management are:

- Establish clear, useful and achievable goals and establish contacts

- Providing project requirements, such as the workforce, required information, various contracts, materials or technologies required to achieve the project objectives

- Elimination of cost, time, scope and quality constraints of the project management triangle

The project manager is a client representative and with the support of the organization they represent, it is necessary to identify and fulfill the client's needs. Installation ability, cost, time, quality and above all are essential to customer satisfaction.

Main functions:

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- Engineer supplies

- time of formation

- Investment, partnership agreement and welding

- Adapt the management plan to the project

- Creation and motivation

- Project risk assessment and change

-Development

- Shareholder management

- Good governance

- Completion of the project

The main strategies which are appeared as result of the actions and functions of the project manager is:

1) Finalizing Project Details

2) Setting Clear Expectation

3) Choosing the right team and system

4) Defining milestones

5) Establishing clear communication

6) Managing project risks

7) Avoiding scope creep

8) Evaluating the project after compilation

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3 years ago
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alekssr [168]

When deciding the cost of an insurance policy being applied to the customer, then the underwriting experts used the concept of data analytics.

Option C is the correct answer.

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The concept of data analytics is one of the processes applied to analyze the data along with collection and modeling. it helps the underwriters to figure out the conclusions based on the trends and patterns of the data.

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