A monopolist faces a demand curve given by: p = 220 – 3q, where p is the price of the good and q is the quantity demanded. the marginal cost of production is constant and is equal to $40. there are no fixed costs of production. what price should the monopolist charge in order to maximize profit?
To maximize profit, a monopolist should set price where marginal cost equals marginal revenue. In this case, the monopolist should charge $130 for each unit of the good.
Explanation:The subject of this question is monopolistic economics in relation to price and demand. To maximize profit, a monopolist would set the price at the level where marginal revenue (MR) equals marginal cost (MC). Given that the marginal cost here is constant at $40, then setting MR = MC would set the condition for profit maximization.
First, we derive the marginal revenue equation from the inverse demand function which is p = 220 - 3q. In the inverse demand equation, the coefficient of Q represents the slope of the demand curve and hence to get the MR, we multiply this coefficient by 2, so MR = 220 - 6q. Now, to find the profit-maximizing quantity (q*), we set MR = MC, so 220 - 6q = 40, which means q* = 30.
The monopolist would then substitute q* back into the demand equation to get the price that maximizes profit, so p = 220 - 3*30 which results in p* = $130. Therefore, to maximize profit, the monopolist should charge $130 per unit of the good. This is the profit-maximizing price under monopoly, where price exceeds marginal cost.
Learn more about Monopolistic Pricing here:https://brainly.com/question/32651958
#SPJ11
A survey of 1000 executives ranked _____________ at the top, as the ideal manager's skill.
Uma and edward are assigned to partner on a project, but they have never worked together before. uma texts edward, "are you available to meet at four this afternoon?" edward replies, "yep. cu then." what advice would you give them about their communication styles?
Before coca-cola bought an interest in it, honest tea "always had a really nice growth rate," according to seth goldman. what problems could this have posed for honest tea? check all that apply.
Capacity Constraints: Rapid growth can strain a company's production capacity, leading to difficulties in meeting increasing demand. Honest Tea may have faced challenges in scaling up production quickly enough to keep pace with consumer demand, potentially resulting in stock shortages and customer dissatisfaction. Cash Flow Issues: Fast growth requires significant investment in resources such as inventory, equipment, and personnel. This can strain a company's cash flow, especially if sales revenues are not immediately realized or if payment terms with suppliers are unfavorable. Honest Tea may have struggled to manage its cash flow effectively to support its rapid expansion.
3. Operational Challenges: Quick growth can lead to operational inefficiencies as systems and processes struggle to keep up with the pace of expansion. Honest Tea may have faced difficulties in managing its supply chain, distribution networks, and other operational aspects, potentially resulting in delays, errors, and increased costs.
4. Quality Control Concerns Maintaining product quality becomes more challenging during periods of rapid growth, especially if production processes are scaled up too quickly or if quality control measures are not adequately implemented. Honest Tea may have faced issues with maintaining consistent product quality, which could have negatively impacted its brand reputation and customer loyalty.
5. Employee Recruitment and Retention: Rapid growth often requires hiring additional staff to support increased production and operational needs. However, attracting and retaining qualified employees can be challenging, especially in competitive markets or industries. Honest Tea may have struggled to recruit and retain skilled workers, leading to staffing shortages or high turnover rates.Overall, while rapid growth can be beneficial for a company's expansion and market penetration, it also brings several potential challenges and risks that need to be carefully managed to ensure sustainable success.
The complete ques is :
Before coca-cola bought an interest in it, honest tea "always had a really nice growth rate," according to seth goldman. what problems could this have posed for honest tea? check all that apply.
Wesley's grandfather was a sharecropper, farming someone else's land. wesley's father was a farmer who farmed his own land. wesley owns an international dairy company that is responsible for providing milk products to people all around the world. this reflects:
Final answer:
Wesley's family history exemplifies the transition from sharecropping to land ownership to operating an international business, reflecting significant social and economic transformations across generations and the shift from subsistence farming to global capitalist production.
Explanation:
Wesley’s family history showcases a transformation from sharecropping to owning land, and finally to running a global dairy business. This reflects significant changes in economic conditions and social structures over generations. Initially, Wesley's grandfather, as a sharecropper, did not own the land he worked on and was part of a system often tied to economic dependency and insecurity. As a sharecropper, he would have paid the landowner a portion of the crops as rent, reminiscent of post-Civil War economic arrangements in the South. In contrast, Wesley's father achieved economic autonomy, a trait valued in both historical and contemporary agricultural societies, by farming his own land which allowed him a degree of independence and the ability to pass on wealth to the next generation.
Now, Wesley's ownership of an international dairy company signifies a leap into large-scale, global capitalist production. This shift indicates not only personal family advancement but also broader socio-economic developments, where agriculture has moved from subsistence and small-scale farming to industrial and international business operations, reflecting a more complex and interconnected global economy. Wesley's current position is far removed from the risks and vulnerabilities that his grandfather faced, such as the cyclical nature of the harvest and potential debt spirals that could cause farmers to lose their land and fall into sharecropping or other forms of labor exploitation, as was common in the past.
A risk management pm is also sometimes called a(n) ________________. accountability manager risk management coordinator key stakeholder scope maintenance manager
Discuss why it is often asserted that exporters suffer when their home currencies appreciate in real terms against foreign currencies and prosper when their home currencies depreciate in real terms.
Andy contrasts barcelona restaurants with other establishments where employees are "told how to answer a phone and how to set a table and how to greet guests and it's all in giant books that they have to memorize." barcelona's more relaxed work rules could help it achieve:
Barcelona's more relaxed work rules can enhance creativity and personalized customer experiences, contrasting with other establishments' rigid protocols that can stifle innovation and reduce employee motivation. The option (B) is correct.
This less formal approach encourages employees to make decisions that align with the unique needs of each customer, leading to inventive solutions and memorable experiences that can differentiate Barcelona restaurants from competitors with more rigid service protocols.
Evidence from various studies suggests that companies with a people-oriented culture tend to have lower turnover rates. For example, Starbucks Corporation, known for its people-oriented culture, provides benefits like health care and tuition reimbursement, and as a result, enjoys a lower turnover rate than the industry average.
Corporate event planners should have strong (a) ________ to book lodging and convention services as needed.
The answer is correct negotiating skills, this skill is needed when a corporate event planner is in charged with book lodging and convention services because having correct negotiating skills is a way of having to be able to negotiate with the clients in a more professional and inviting behavior.
Tyree's basketball coach makes his players practice free throws after a difficult practice and under the threat of having the whole team run laps if every player on the team does not sink at least 75 percent of their free throws. tyree's coach is likely trying to instill ________ in his players.
Final answer:
Tyree's coach is aiming to instill discipline and the ability to perform well under pressure, a trait known as clutch performance. By setting a high success rate for free throws, the coach is teaching the players the importance of consistency and focus in stressful situations, similar to in-game conditions.
Explanation:
Tyree's basketball coach makes players practice free throws under pressure to ensure that they can perform well even in high-stakes situations. By requiring a 75 percent success rate and setting the consequence of the team running laps for failure, the coach is likely trying to instill discipline and clutch performance in his players. Discipline refers to the training that develops self-control, efficiency, and orderliness among the players. Clutch performance, on the other hand, emphasizes the ability to perform reliably under stressful or difficult conditions, mirroring the pressures of a real game.
For example, if we take Helen, who plays basketball and makes her free throws 75 percent of the time, this would mean that out of two free throws she attempts, the probability of making the first shot (Event C) is 0.75, or 75 percent. Practicing under pressure would aim to maintain or improve this consistency. This is similar to what Tyree's coach is trying to achieve - success under pressure, maintaining a high percentage of free throws, and being disciplined in performance to avoid the consequences.
The national labor relations act of 1935 (wagner act) required employers to ________.
a. limit the amount of hours worked per week
b. negotiate with elected representatives of their employees
c. bargain with union organizers in "good faith"
d. establish open shops where unions are free to organize
The national labor relation act of 1935 are required employers to be able to negotiate with people that are under as elected representatives in which are their employees. By this, the correct answer is letter b as this is in consistent with the requirement of the relations act of 1935.
On october 1, 2014, balkan, inc. accepted from another corporation a 1-year note receivable in the amount of $15,000, with an interest rate of 6%. how did this transaction affect balkan's financial statements?
A technological advance in the economy will lead to __________ price level, _____________ output and ______________ natural rate of unemployment.
Technological progress in the economy will lead to a decline in prices, increase industrial output, and naturally increase unemployment.
Further explanationThe technological advancements that we have felt in this era have been recognized and can be felt directly that can provide a lot of convenience and comfort for humanity. One impact on the development of communication and information media can be felt in the Economic Field. Technological progress is something that can not be avoided in this life because technological progress will go according to scientific progress.
Innovations are born to have a positive impact on activities. human daily life. This provides a lot of conveniences, as well as a new way of doing human activities. Thanks to this rapidly developing technology, convenience in the economy and industry is very much felt at this time. This is due to technological developments that have a positive impact on the economy and industry, including:
1. Economic Growth Has Increased
This development is beneficial for the development of personal and state economies because the more people who are no longer constrained by the economy will further ease the burden on the state.
2. The occurrence of Industrialization
Many change jobs or switch to earning income from farmers or ranchers to industries, although this can indeed lead to positive or negative things.
3. Industrial World Productivity Increases
With the development of technology that has an impact on the economy and industry, it is certainly beneficial to productivity, both individually and in groups. Of course, this is based on the development of technology and therefore uses technology to increase personal productivity.
Learn more
The impact of technology on the economy https://brainly.com/question/284986, https://brainly.com/question/12347978
Details
Class: College
Subject: Business
Keyword: Technological impact on the economy.
Who develops the configuration and validation requirements for it products and services within dod?
The Department of Defense develops configuration and validation requirements for IT products and services, focusing on operational efficiency and cost-effectiveness while providing technical support to adapt technologies in collaboration with the private sector.
Explanation:The Department of Defense (DoD) is responsible for developing the configuration and validation requirements for IT products and services. The development of these requirements is critical to ensuring the operational efficiency and security of military operations. Collaboration with the private sector often involves providing technical support to help adapt technologies for use within the DoD, while also managing costs and resources effectively. Considering that personnel and operational costs represent a significant portion of the DoD's budget, the focus on efficiency and cost-effectiveness is paramount for sustaining its core defense mission.
New managers are often surprised to learn that ________ take up most of their time. supply chain problems customers meetings people issues
$3,000 is invested in an account earning 8% interest compounded annually. How much will there be in the account after 2 years?
A. $3,240
B. $3,480
C. $3,499.20
D. $3,779.14
Suppose charles owns a lawn-mowing company. assume that without workers, no yards are mowed. when he hires one worker, he is able to mow 44 yards per day. with two workers, he can mow 99 yards per day, and with three workers, he can mow 1616 yards per day.
True or false: the price floor of $6 per pound of cheese reduces the total revenue of cheese producers.
Final answer:
The impact of a price floor of $6 per pound on cheese producers' total revenue depends on market conditions. A rise in input costs (milk) reducing supply could lower revenue, while increased demand might raise revenue. The price floor's effect also depends on whether it's above or below the market equilibrium price.
Explanation:
A price floor of $6 per pound of cheese reduces the total revenue of cheese producers cannot be definitively answered as true or false without more contextual information about the market conditions before and after the imposition of the price floor. However, we can analyze the scenarios provided:
If the price of milk rises, causing a decrease in the supply of cheese by 80 pounds at every price, cheese producers might indeed experience a reduction in total revenue due to a reduced quantity of cheese being available for sale, assuming the price floor is above the equilibrium price.Conversely, if a new study increases demand for cheese by 20% at every price, this heightened demand could mitigate or even overcome the negative impact of reduced supply on total revenue, potentially leading to increased revenue for cheese producers even with a price floor in place.Also, if the price floor is set below the equilibrium price, it would not be binding and therefore would not impact revenues. But if the price floor is above the equilibrium price, it could cause a surplus and potentially reduce total revenue.
Ian would like to save $2,000,000 by the time he retires in 30 years. if he believes that he can achieve a 6% rate of return, how much does he need to deposit each year, starting one year from now, to achieve his goal? $12,065 $5,790 $37,500 $25,298
how does an improvement in consumer confidence affect the consumption function and the aggregate demand curve?
Consumer confidence is influenced by expectations in the future. It influences independent consumption and grounds the consumption function to change. If consumers are more self-assured and confident, they will use more money at all revenue levels, and the consumption function shifts in an increasing pace. This growth in spending lets the aggregate demand curve to move to the right.
Why should companies be careful to define cash and cash equivalents correctly?
What percentage of the u.s. population lives in cities?
a. 25%
b. 50%
c. 79%
d. 85%
e. 100%?
The percentage of the United States (U.S) population who lives in cities is; c. 79%.
What is a population?A population can be defined as a set of similar items or events that comprises every member of a group and from which a researcher, scientist, or experimenter, obtained data for a statistical study.
This ultimately implies that, a population size simply refers to the total number of individual living organisms that is in a population, which is usually denoted by the letter N.
According to the Census Bureau of the United States of America, 79 percent (79%) of the U.S population are living in cities.
Read more on population here: https://brainly.com/question/7301139
#SPJ1
Final answer:
The United States population in cities is 79%. Hence, option c is correct.
Explanation:
The correct answer is: c. 79%
By 2010, approximately 81% of the United States population lived in urban areas, indicating a substantial transition from rural to urban living. This shift was primarily fueled by the demands of the Industrial Revolution, which necessitated a concentration of labor in urban centers. As factories burgeoned, drawing workers from rural regions, cities swelled in population. Consequently, urbanization became a dominant trend, with cities hosting the majority of the populace, reshaping the social and economic landscape of the nation.
A company follows a skimming strategy as part of introducing a new product to
Lino is a linebacker on his college football team. he is concerned about achieving adequate hydration during intense, hot summer football practices. lino weighs himself before and after practice and notices that he loses five pounds by the time practice is over. about how much water would be enough to replace these fluid losses?
Suppose your principal objective is to maximize the selectivity of monochloroethane production relative to dichloroethane production. would you design the reactor for a high or low conversion of ethane? explain your answer. (hint: if the reactor contents remained in the reactor long enough for most of the ethane in the feed to be consumed, what would the main product constituent probably be?) what additional processing steps would almost certainly be carried out to make the process economically sound?
We are given the series of chemical reactions:
Ethane is chlorinated in a continuous reactor:
C2H6 + Cl2 --> C2H5Cl + HCl
But some of the product monochloroethane becomes further chlorinated by an undesired side reaction:
C2H5Cl + Cl2 --> C2H4Cl2 + HCl
So to avoid the product monochloroethane to be further chlorinated, there must be fast processing or fast conversion of ethane so that there would less time for further chlorination. Hence we must design the reactor for high conversion of ethane.
To make the process economical, there must be a downstream separation step that would separate the main product monochloroethane from the undesired product dichloroethane.
The chief reason a person becomes a supervisor is his or her work-related knowledge. unique style. strength of personality. confidence.
You have just been hired as a database administrator for an international corporation that is a holding company for many other companies. your first task is to design a new database infrastructure for the corporation. to
if secondary research can't provide the information and insights you need, you may need to gather the information yourself with ______________ research
A firm produces two goods q1 and q2. for economies of scope to occur, it must be true that:
Since companies do not know precisely how much demand will be placed on their computing resources in the future, an attractive element of using the cloud is the fact that it is ________.