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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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Answer:

The correct answer is a. sorting/absorbing

Explanation:

The flight of talented employees is a situation that usually hurts companies, for that reason it is important to have growth plans that allow you to retain the people who generate value for the organization. If you focus directly on the classification, you are certain of who the projected employees are, and that in the short or medium term they can directly contribute to the growth of the company; for its part, absorption refers to the process of hiring employees who are already talented in search of a training process based on previous experiences.

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elena-s [515]

Answer:

$115.38

Explanation:

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8 0
3 years ago
Match the vocabulary word with the correct definition
VLD [36.1K]

Answer:

:: Selective Exposure - consumers actively choose messages which they want to see

:: Selective Attention -consumers decide how much attention they would like to give to a message

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Explanation:

8 0
3 years ago
For much of the twentieth century, east asia was dominated economically and politically by:________
Nostrana [21]

For much of the twentieth century, east Asia was dominated economically and politically by Japan.

<h3>How to illustrate the information?</h3>

It should be noted that East Asia was developed based on the successful market economy and private investment.

In the 20the century, there were domestic instability as well as revolution.

Therefore, For much of the twentieth century, east asia was dominated economically and politically by Japan. This is quite different nowadays as China is a leading power.

Learn more about Asia on:

brainly.com/question/1370427

#SPJ4

6 0
2 years ago
Tracy is passed over for a promotion and raise because he is often late to work and misses deadlines. He wants to make himself l
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Answer: impression management

Explanation:

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Tracy wants to maintain her status hence she has to lie to her friends to keep looking like a great person who is achieving great things in life even when she is not.

She has to maintain that impression they have of her that she has probably built over time amongst her friends .

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