This is my first video on profit maximization. The video explains how to calculate profit maximising output, Average cost, maximum profit , total revenue, total cost , marginal Revenue and marginal cost.
ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-dvaRrxcCQHg.htmlsi=hMgDQBJqSoBggsez This is my second video on profit maximization. The video explains how to calculate profit maximising price, profit maximising output, maximum profit, marginal Revenue, marginal cost, Total Revenue and Total cost. Subscribe to my economics RU-vid channel and click on the notification bell to get notified when ever I upload a new video.
Tutor Sam, well done. solve this ( assume a monopolist is faced with the diff. demand function. Q= 500- 30p and total variable cost function TVC = 5Q+ Q2/ 5Q.
Price (dollars per gallon) Quantity demanded in July (gallons per day) Quantity demanded in November (gallons per day) Quantity supplied (gallons per day) 2.00 300 150 0 2.50 250 100 100 3.00 200 50 200 3.50 150 0 300 4.00 100 0 400 4.50 50 0 500 5.00 0 0 600 a) Draw the market demand and market supply curves. What is the equilibrium price and equilibrium quantity of ice cream in July and November? Is the allocation of resources efficient in July? Is it efficient in November? (10 marks) b) What is the maximum price that consumers are willing to pay for the 100th gallon of ice cream in July? In November? What is the minimum price that producers are willing to accept for the 100th gallon in July and November? (10 marks) c) What happens to consumer surplus and producer surplus in November compared to July
ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-dvaRrxcCQHg.htmlsi=hMgDQBJqSoBggsez This is my second video on profit maximization. The video explains how to calculate profit maximising price, profit maximising output, maximum profit, marginal Revenue, marginal cost, Total Revenue and Total cost. Subscribe to my economics RU-vid channel and click on the notification bell to get notified when ever I upload a new video.
