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Author Question: The market demand for MP3 players is p = 50 - 0.5Q, and the marginal cost for an MP3 player is 10. ... (Read 84 times)

dalyningkenk

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on: Jul 1, 2018
The market demand for MP3 players is p = 50 - 0.5Q, and the marginal cost for an MP3 player is 10. If Nick receives 60 of the total profit, then
 
  A) Nick will produce 50 MP3 players.
  B) Nick receives 500 as profit.
  C) total profit is 800.
  D) the efficiency in production is not achieved.

Question 2

The market demand for MP3 players is p = 50 - 0.5Q, and the marginal cost for Nick to obtain and sell an MP3 player is 12. If he receives 60 of the MP3 sales revenue, then
 
  A) Nick will sell 38 MP3 players.
  B) Nick will sell 50 MP3 players.
  C) Nick will receive 270 as profit.
  D) total profit is 342.


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Jevvish

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Reply #1 on: Jul 1, 2018
Answer to Question 1

C

Answer to Question 2

C


dalyningkenk

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Reply 2 on: Jul 1, 2018
Thanks for the timely response, appreciate it

bbburns21

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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