A seller using a single-price strategy has equated marginal revenue to zero. The firm has: Select one: 0 a. maximized revenue. O b. minimized cost. C. minimized profit. O d. maximized profit.
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A seller using a single-price strategy has equated marginal revenue to zero. The firm has: Select one:
0 a. maximized revenue.
O b. minimized cost.
C. minimized profit.
O d. maximized profit.
Note:-
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- A firm in a monopolistically competitive industry may try to differentiate itself by a) advertising. Ob) offering a guarantee. Oc) improving quality. d) locating in a convenient area. O e) all of the above. Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.Choose the letter/s of the correct answer/s. How are you going to maximize a profit if the price is given as 3 – 25D? A. Differentiate the price, then multiply the demand and subtract the total costs. Set equal to 0.B. Use the profit formula, then differentiate the total costs. Set equal to 0.C. Subtract the total costs from total revenue then differentiate. Set equal to 0.D. Differentiate the total price then subtract the total costs. Set it equal to 0.If advertising makes consumers more aware ofalternative products, it could _________ theelasticity of demand and _________ the markup ofprice over marginal cost.a. increase; increaseb. increase; decrease
- Instructions: Answer ALL Questions. Include referencing where additional sourceshave been used. APA format is recommendedQuestion 1a. How is monopolistic competition like monopoly, perfect competition andoligopoly? b. Give two examples of price discrimination. In each case, explain why themonopolist chooses to follow this business strategy c. Why does price equal marginal revenue for the perfectly competitive firm?What is the relationship to the demand curve for the firm? Question 2a. Define economies of scale and explain why they might arise. Definediseconomies of scale and explain why they might arise.b. Explain the relationship between total product, marginal product, and averageproduct. c. How does fixed cost affect marginal cost? Why is this relationship important?Question 3a. Is it possible for total utility to increase while marginal utility diminishes?Explain. b. Mary has two dinner options available: eating a home cooked meal for $150 permeal, or at a restaurant for $260 per…a. Use the information in this table tocalculate total revenue, marginal revenue, and marginal costs. Indicate the profit-maximizing level ofoutput. What market structure is this firm operating in? What would change if the structure were monopolistic competition? OUTPUT PRICE (GH¢) TOTAL COST (GH¢) 1 5 10 2 5 12 3 5 15 4 5 19 5 5 24 6 5 30 7 5 45 b. Under what circumstances would a large size provide an advantage to a firm? How could it serve as a barrier to entry? c. You and your rival must simultaneously decide what price to advertise in the weekly newspaper. If you each charge a low price, you each earn zero profits. If you each charge a high price, you each earn profits of GH¢3. If you charge different prices, the one charging the higher price loses GH¢5 and the one charging the lower price makes GH¢5.i. Find the equilibrium when there are no repeated transactions.ii. Now suppose there are repeated transactions. How would that change the results?Required information Below is a graphical illustration of a typical firm operating in a monopolistically competitive industry. P5 PT 01 Multiple Choice 0203 Refer to the graph above to answer this question. What area graphically A loss of P4P5FJ. A loss of Q₁FJQ3- ATC A profit of P4P5FJ. a profit-maximizing firm's total profits or loss?
- Solve for Question (C) How to Maximize RevenueYou own Athleticon, which manufactures athletic wear. Your new contract with Atlanta United, a professional soccer team, allows Athleticon to be the sole suppler of athletic wear with the “Atlanta United” logo. No one lese can manufacture athletic wear with the “Atlanta United” logo. What do you think will be Athleticon’s level of profitability on the sale of “Atlanta United” athletic wear? Explain why. Your contract with Atlanta United only lasts 3 years. It was not renewed. Other firms can now manufacture athletic wear with the “Atlanta United” logo It is now 5 years after your contract with Atlanta United was terminated. Any manufacturer that wants to can manufacture and sell athletic wear with the “Atlanta United” logo. What do you think will be the level of profitability and rate of return on manufacturing athletic wear with the “Atlanta United” logo? Explain why.This profit-maximizing/ loss minimizing firm is ? Note:- Please refrain from offering handwritten solutions. Please ensure that your response maintains accuracy and quality to avoid receiving a downvote. Take care of plagiarism. Answer completely. You will get up vote for sure.
- PRICE (Dollars per engine) 100 90 80 70 60 40 30 & 2 20 10 MO D 0 10 ATC MR Demand 20 30 40 50 60 70 DO 90 QUANTITY (Thousands of engines) 100 Mon Comp Outcome Min Unit Cost Because this market is a monopolistically competitive market, you can tell that it is in long-run equilibrium by the fact that optimal quantity. Furthermore, a monopolistically competitive firm's average total cost in long-run equilibrium is average total cost. at the the minimum2. XYZ Company is specialized in mangoes distribution in the city of Muscat. Sales are 450 boxes (unit) per month. It costs OR 10 to make and receive an order and holding cost is OR 3.5 per box per year. The prices depend on quantities purchased such that the order quantities from 1 to 199 at a unit price RO 5; quantity 200 to 499 at a unit price 4.5 RO; and quantity 500 and more at a per unit price of 4 RO. If the discount option is considered, then the best decision that minimizes the total annual inventory cost is? a. 185 units, Total cost = 30,649 b. None is correct c. 450 units, Total cost = 23,500 O d. 500 units, Total cost = 22,583 e. 200 units, Total cost = 27,2403. Maximize the following total revenue TR and total profit functions by i. finding the critical valu(s), ii. testing the second-order conditions, and iii. calculating the maximimum TR of it. a. π = -Q³-50² +2000Q - 326 b. π = -Q³-6Q² + 14400-545