The daily cost of producing and selling expensive tourist souvenirs is C(q) = 20q^1.5 + 100. The demand function for the souvenirs is P = 1200/q^.5 .
A. Calculate the marginal cost of producing the souvenirs.
B. Calculate the marginal revenue from selling the souvenirs. (remember revenue is p times q)
C. If the sellers goal is to maximize profits, how many souvenirs should they produce and what price should they charge?
Solved
Show answers
More tips
- A Art and Culture How to Learn to Play Guitar?...
- S Style and Beauty What to Do When Hair Starts Falling Out?...
- H Health and Medicine Novomin: What is it and how to use it?...
- P Philosophy Unbelievable stories of encounters with otherworldly forces...
- L Leisure and Entertainment How to Choose the Perfect Gift for Men on February 23rd?...
- H Health and Medicine How to Treat Whooping Cough in Children?...
- H Health and Medicine Simple Ways to Lower Cholesterol in the Blood: Tips and Tricks...
- O Other How to Choose the Best Answer to Your Question on The Grand Question ?...
- L Leisure and Entertainment History of International Women s Day: When Did the Celebration of March 8th Begin?...
- S Style and Beauty Intimate Haircut: The Reasons, Popularity, and Risks...
Answers on questions: Business
- B Business Portfolio goal write a 1 - 2 page (250 - 500 word) paper. portfolio details 1. in terms of job loss, north carolina is one of the states most adversely affected by nafta....
- B Business Washam Company must maintain a minimum cash balance of $25,000. At the beginning of June the company’s cash balance was $17,000. Budgeted cash receipts for June are $150,000...
- B Business In VAT (Value added tax) is it profitable to buy in large or small quantities?...
- B Business Under which tab can you find the options for reusing slides from other presentations? Home File Insert Design...
- B Business Phân tích các yếu tố tác động tới hoạt động hướng dẫn viên ?...
- B Business What is area TEXT M 508-375-8936...
- B Business Can somebody please help me...
- B Business €‹Osawa ,​Inc., planned and actually manufactured 230,000 units of its single product in 2017​, its first year of operation. Variable manufacturing cost was $ 21 per...
- B Business Your cousin Vinnie owns a painting company with fixed costs of $250 and the following schedule for variable costs: Quantity Variable Cost Average Fixed Cost Average Variable...
- B Business At Eady Corporation, maintenance is a variable overhead cost that is based on machine-hours. The performance report for July showed that actual maintenance costs totaled...
Ответ:
2=D
3=C
4=A
5=C
6=C
7=D
8=A
9=C
10=D
11=C
12=A
13=C
14=B