Profit maximizing quantity formula
[DOC File]26
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Label it “profit maximizing quantity,” and like the rest, type in equal in the next cell, go to the page where it is, click on it with the mouse and hit enter. You will also need the amount of capital, the price of capital, the rental on capital, and the interest rate.
[DOCX File]University of Wisconsin–Madison
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To find the profit maximizing quantity for a single price monopolist we need to equate MR to MC. Hence, 20 – Q = 2 or Q = 18 units of output. Use the demand curve to find the profit maximizing price: P = 20 – (1/2)Q = 20 – (1/2)(18) = $11 per unit of output.
[DOC File]Chapter 5
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The profit maximizing output, Q*, is found by equating marginal revenue and marginal cost at point A. Q* is found by reading down from point A to the horizontal axis. Reading up from point A to the demand curve and then across to the vertical axis gives the price the monopolist will charge, P*. Profit is equal to total revenue minus total cost.
[DOC File]CHAPTER 11
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Setting marginal revenue equal to marginal cost to determine the profit-maximizing quantity: 130 - 2Q = 30, or Q = 50. Substitute the profit-maximizing quantity into the demand equation to determine price: 50 = 130 - P, or P = $80. Although a price of $80 is charged in both markets, different quantities are purchased in each market. and
[DOC File]Microeconomics, 7e (Pindyck/Rubinfeld)
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The profit maximizing level of output is found where MR = MC. The MR curve has the same price intercept as the demand curve and is twice as steep. Thus, a monopolist will produce half as much as the competitive level (this is only true because marginal cost is constant).
[DOC File]Practice Questions
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b. Calculate the Lerner index, L = (P - MC)/P, for this firm at its profit-maximizing levels of A, Q, and P. The degree of monopoly power is given by the formula . Marginal cost is 8Q + 10 (the derivative of total cost with respect to quantity). At the optimum, where Q …
[DOC File]Principles of Microeconomics, 7e (Case/Fair)
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This farmer's profit-maximizing level of output is _____ units of output. A) 200 B) 700 C) 1,000 D) 1,400 Answer: C Diff: 2 Type: A 23) Refer to Figure 8.8. If this farmer is producing the profit-maximizing level of output, her profit is A) $0.
[DOC File]PART III
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To find the profit-maximizing level of output, set marginal revenue equal to marginal cost: 11 - 2Q = 6, or Q = 2.5. That is, the profit-maximizing quantity equals 2,500 units. Substitute the profit-maximizing quantity into the demand equation to determine the price: P = 11 - 2.5 = $8.50. Profits are equal to total revenue minus total cost,
[DOC File]Principles of Microeconomics, 7e (Case/Fair)
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Chapter 7: The Production Process: The Behavior of Profit-Maximizing Firms The Behavior of Profit Maximizing Firms. Multiple Choice Refer to the information provided in Figure 7.1 below to answer the questions that follow. Figure 7.1 1) Refer to Figure 7.1. Panel _____ represents the demand curve facing a perfectly competitive producer of wheat.
[DOCX File]sjapeconomics.weebly.com
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Marginal Analysis to Choose he Profit-Maximizing Quantity of Output. 4. What is the formula for marginal revenue? 5. Why does optimal output maximize profit? 6. Examine Table 53.2. How much output does MR get as close to MC without being less than MC? 7. Examine Figure 53.1: Notice that MR=P and where MR=MC determines profit maximization.
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