Answer:
A. 15 units
B. $130
Explanation:
In order to solve this, we need to use the profit maximization condition for monopoly.
MR = MC will give us the optimal quantity and price for the monopolist.
The consumer's demand for the product is:
Qd = 80 - 0.5P
Therefore, we have:
P = (80 / 0.5) - (Qd / 0.5)
P = 160 - 2Qd
Recall that, Total Revenue:
TR = P * Q
So, in this case TR = 160Q - 2Q^2
MR = d(TR) / dQ = 160 - 4Q
Now, MR = MC
160 - 4Q = 100
4Q = 160 - 100
4Q = 60
Q = 60 / 4
Q = 15 units.
Now, P =160 - 2Q
P = 160 - 2(15)
P = 160 - 30 = 130
The optimal number of units to be placed in a package will therefore be 15 units while the firm should charge $130 for this package.
A cosmograph simply because that is not what any of the other graphs look like. D is the only one that can take the shape of a state.
Answer with its Explanation:
In the 1800s, advertising was done in local newspapers and in a number of magazines. The cost of advertising in newspapers was very high in those days because the only source of communication with the public was newspaper and magazines.
The designing of copying and opting to art was very common in those days which was adopted to attract key customers and placement of the advertisements in a specific place which would result in higher sales was also common to attract customer attention.
The telephone was invented in 1876, but still telemarketing started in 1970s. So the primary source of advertising and sales promotions was either by newspaper and magazines or face to face selling.
Answer: Lower
Explanation: A shortage occurs when there are less available in the market. When the current price is less than the equilibrium price, the demand for the good is greater than the supply for the good. When demand is more than supply, the buyers are unable to get the goods they want. Thus, there is a shortage in the market.
Thus, if a shortage exists in the hamburger market, then the current price must be <em>lower </em>than the equilibrium price.
