This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Pete is a perfectly competitive rose grower. The above table gives quantities and the price for ... (Read 98 times)

bobbie

  • Hero Member
  • *****
  • Posts: 592
on: Jun 29, 2018
Pete is a perfectly competitive rose grower. The above table gives quantities and the price for which Pete can sell his roses.
 
  a) What is Pete's total revenue if he sells 1 dozen roses? 2 dozen roses? 3 dozen roses? 4 dozen roses? b) What is the marginal revenue of the 2nd dozen roses sold? Of the 3rd dozen? Of the 4th dozen?

Question 2

The present value of a future sum of money is the amount that, if invested today, will grow
 
  A) as large as that future sum, given the interest rate.
  B) at a constant rate forever.
  C) as large as that future sum, less taxes payable.
  D) as large as that future sum, if the interest rate is zero.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

ryrychapman11

  • Sr. Member
  • ****
  • Posts: 334
Reply #1 on: Jun 29, 2018
Answer to Question 1

a) The total revenue when 1 dozen roses is sold is 12. When Pete sells 2 dozen roses, the total revenue is 24. When 3 dozen roses are sold, the total revenue is 36. And the total revenue when 4 dozen roses are sold is 48.
b) The marginal revenue is always 12 per dozen roses.

Answer to Question 2

A


bobbie

  • Member
  • Posts: 592
Reply 2 on: Jun 29, 2018
YES! Correct, THANKS for helping me on my review

duy1981999

  • Member
  • Posts: 341
Reply 3 on: Yesterday
Wow, this really help

« previous next »
 

Did you know?

By definition, when a medication is administered intravenously, its bioavailability is 100%.

Did you know?

According to the National Institute of Environmental Health Sciences, lung disease is the third leading killer in the United States, responsible for one in seven deaths. It is the leading cause of death among infants under the age of one year.

Did you know?

Blood is approximately twice as thick as water because of the cells and other components found in it.

Did you know?

Malaria was not eliminated in the United States until 1951. The term eliminated means that no new cases arise in a country for 3 years.

Did you know?

Your skin wrinkles if you stay in the bathtub a long time because the outermost layer of skin (which consists of dead keratin) swells when it absorbs water. It is tightly attached to the skin below it, so it compensates for the increased area by wrinkling. This happens to the hands and feet because they have the thickest layer of dead keratin cells.

The Periodic Table (Part 1) The Periodic Table (Part 1)
Crimson-Eyed Rose-Mallow Crimson-Eyed Rose-Mallow
Finish with bilateral stroking to the entire back. Stand at head of the table with fingers pointing ... Finish with bilateral stroking to the entire back. Stand at head of the table with fingers pointing ...
Dorsiflex the foot, applying direct pressure to the bottom. Standing at the end of the table, pick ... Dorsiflex the foot, applying direct pressure to the bottom. Standing at the end of the table, pick ...
table table
APA Table - SPSS APA Table - SPSS
Video: Introduction to Macular Degeneration

For a complete list of videos, visit our video library