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Galina-37 [17]
2 years ago
6

You are the manager of a monopoly, and your analysts have estimated your demand and cost functions as P = 200 − 2Q and C(Q) = 1,

000 + 3Q2, respectively.
a. What price–quantity combination maximizes your firm’s profits?




Instructions: Round your response to the nearest penny (two decimal places).




Price: $


Quantity:

units



b. Calculate the maximum profits.




Instructions: Round your response to the nearest penny (two decimal places).




$






c. Is demand elastic, inelastic, or unit elastic at the profit-maximizing price–quantity combination?




multiple choice 1

Elastic

Unit elastic

Inelastic






d. What price–quantity combination maximizes revenue?




Instructions: Round your response to the nearest penny (two decim
Business
1 answer:
denpristay [2]2 years ago
7 0
The answer is A , correct me if i’m wrong
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A vendor raises the cost of materials you planned to order, and the increased cost will put your project over budget. Which shou
artcher [175]

Answer:

A. Review the budget to identify other areas where costs can be cut.

Explanation:

In the case when the vendor increased the material cost that planned and the increased cost would also be placed in your project i.e. over budgeted so the first thing you should do is review the budget by identifying the areas where the cost cutting to be done

Therefore as per the given situation, the option A is correct

And, the rest of the options are incorrect

3 0
3 years ago
The cost, in dollars, to produce x designer dog leashes is C ( x ) = 8 x + 3 , and the price-demand function, in dollars per lea
Rzqust [24]

Answer:

Profit maximising price = 48

Explanation:

Total Cost : C (x) = 8x + 3

Demand Curve : p (x) = 88 − 2x

Total Revenue = p (x). x  =  x (88 - 2x) = 88x - 2x^2

Profit maximisation is where Marginal Cost (MC) = Marginal Revenue (MR)

MC = d TC / d Q  =   d (8x + 3) / d x = 8

MR = d TR / d Q = d (88x - 2x^2) / d x = 88 - 4x

Equating MR & MC ,

88 - 4x = 8  , 88 - 8 = 4x

x = 80 / 4 , x = 20

Putting value in demand curve,

p = 88 - 2x = 88 - 2 (20) = 88 - 40

p = 48

3 0
3 years ago
The best definition of an accounting system is: The concepts, principles, and standards specifying the information which should
White raven [17]

Answer:

The personnel, procedures, devices, and records used by an entity to develop accounting information and communicate this information to decision makers.

Explanation:

Accounting system is a system used to organise financial information. Accounting system can be manual or electronic

7 0
3 years ago
In its first month of operations, Cheyenne Corp. made three purchases of merchandise in the following sequence: (1) 185 units at
Dimas [21]

Answer:

a.  $1,375

b. $1,240

Explanation:

FIFO method

FIFO assumes that the inventory to arrive first will be sold first. Inventory values depend on  earlier purchases

Inventory =  185 x $5 + 75 x $6

                = $1,375

LIFO method

LIFO assumes that the inventory to arrive last will be sold first. Inventory values depend on recent purchases

Inventory =  130 x $7 + 55 x $6

                = $1,240

7 0
3 years ago
A company that uses a job order costing system would make the following entry to record the flow of direct materials into produc
jonny [76]

Answer:

debit Work in Process Inventory, credit Raw Materials Inventory.

Explanation:

For reasons of accounting principles, the physical inventory must have priority to that of the continuous method; since the first constitutes information of greater objectivity and can therefore serve as a reference point to determine if there are missing or surpluses in the inventories, which after being well purified, can be adjusted through the cost of sale account and the inventory account accordingly if the permanent inventory turns out to be greater than the physical one, the cost of sale account must be <u>debited</u> for the amount of the difference, while the inventory account will receive a <u>credit</u> for the same value.

7 0
3 years ago
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