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 89 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
Wow, this really help

ecabral0

  • Member
  • Posts: 310
Reply 3 on: Yesterday
Excellent

« previous next »
 

Did you know?

Signs and symptoms that may signify an eye tumor include general blurred vision, bulging eye(s), double vision, a sensation of a foreign body in the eye(s), iris defects, limited ability to move the eyelid(s), limited ability to move the eye(s), pain or discomfort in or around the eyes or eyelids, red or pink eyes, white or cloud spots on the eye(s), colored spots on the eyelid(s), swelling around the eyes, swollen eyelid(s), and general vision loss.

Did you know?

Patients who cannot swallow may receive nutrition via a parenteral route—usually, a catheter is inserted through the chest into a large vein going into the heart.

Did you know?

Urine turns bright yellow if larger than normal amounts of certain substances are consumed; one of these substances is asparagus.

Did you know?

Serum cholesterol testing in adults is recommended every 1 to 5 years. People with diabetes and a family history of high cholesterol should be tested even more frequently.

Did you know?

The oldest recorded age was 122. Madame Jeanne Calment was born in France in 1875 and died in 1997. She was a vegetarian and loved olive oil, port wine, and chocolate.

A. Open portable massage table on its side. B. Straighten out legs completely and check that leg ... A. Open portable massage table on its side. B. Straighten out legs completely and check that leg ...
Walk around the head of the table to the left side and reach across to perform threecount stroking ... Walk around the head of the table to the left side and reach across to perform threecount stroking ...
Stretch the extensor muscles with flexion at the wrist. Reposition the palm to face the table. Apply ... Stretch the extensor muscles with flexion at the wrist. Reposition the palm to face the table. Apply ...
How to solve an exponential problem using a table of values (Question 2) How to solve an exponential problem using a table of values (Question 2)
A 23 kg mass is connected to a nail on a frictionless table by a massless string 1.3 m long. ... A 23 kg mass is connected to a nail on a frictionless table by a massless string 1.3 m long. ...
Table - Correlation Analysis Table - Correlation Analysis
Video: Asthma Treatment

For a complete list of videos, visit our video library