Answer: 15
Explanation:
For profit to be maximized by a monopolist, the marginal revenue and marginal cost must be gotten.
P= 105-3Q
MC= 15
Since total revenue is price × quantity, TR= P×Q = (105-3Q)Q
= 105Q-3Q^2
MR= 105-6Q
Since we've gotten marginal revenue and marginal cost, we equate both together.
MR=MC
105-6Q = 15
6Q = 105-15
6Q=90
Divide both side by 6
6Q/6 = 90/6
Q= 15
The quantity that will maximise profit is 15
Your answer would be D.) Occupational safety and health administration
A concrete step
Hope it helps!
A net worth statement, financial goals, and a budget are all part of a financial plan.
Answer:
b. quantity with price as the explanatory variable because the demand curve is linear.
Explanation:
A linear demand curve can be defined as the graphical representation of the relationship between the quantity of goods or services that are being demanded by the consumers and the price of the goods or services at a specific period of time.
Generally, the x-axis of the graph is used to represent the price of the goods or services while the y-axis of the graph is used to represent the quantity of goods or services that are being demanded by the customers at a specific period of time.
In this scenario, You work for a firm producing fitness equipment and have been informed that the demand curve for the firm's main product, a multi-station home gym, is linear. Also, you have been provided with price and quantity data obtained from focus groups and have been asked to run a regression of revenue on price.
Hence, a linear functional form can properly be used to estimate quantity with price as the explanatory variable because the demand curve is linear.
Additionally, according to the law of demand, as the price of a particular product or service increases, there will be a decrease in the quantity that is being demanded by the consumers.
