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Author Question: Refer to Scenario 13.2 below to answer the question(s) that follow.SCENARIO 13.2: The government of ... (Read 575 times)

jeatrice

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Refer to Scenario 13.2 below to answer the question(s) that follow. 

SCENARIO 13.2: The government of Stratospheria is currently inviting investors to bid for the exclusive right to provide cable television service to its residents. The market demand for this service is 
P=55-0.01
Q, where 
Q is the number of households that would subscribe to the cable service and 
P is the monthly fee charged to the subscribers. The associated marginal revenue curve is 
MR=55-0.02
Q. Fun Cable Company is interested in bidding for the right to provide cable service in Stratospheria. It has a constant average and marginal cost of $5 for providing cable service to each household.





Refer to Scenario 13.2. At what level of output (number of households) is Fun Cable Company's total revenue maximized?


◦ 2,500
◦ 2,750
◦ 5,000
◦ Indeterminate from the given information.


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Marked as best answer by jeatrice on Apr 19, 2019

sultansheikh

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jeatrice

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Reply 2 on: Apr 19, 2019
Thanks for the timely response, appreciate it


scottmt

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

 

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