??? the $10 o each. I will cost s The demand for the book bookstore orders soO b

Question

??? the $10 o each. I will cost s The demand for the book bookstore orders soO books, what is the total profit? is p-200-20. A bookstore can order copies spikes but obviously 4. You own a restaurant near the beach. Business has been growing each year, during the summer months. A regression produces the following equation: M-30.000 + 500t + 1.000s Where M is monthly sales, t is years past 2010, and S is a dummy variable if the month is June, July, or August, insert a "1". If not, the value for S is zero. for the summer months. What are the predicted sales for July 2018? Enter as a value. s. According to the theory of the firm, what is management's ultimate objective? a. Revenue maximization b. Cost minimization c. Profit maximization d. Market share maximization 6. Total revenue is maximized at the point where a. marginal revenue equals zero. b. marginal cost equals zero. c marginal revenue equals marginal cost . marginal profit equals zero.

Explanation / Answer

3. At Q =50, P = 200-2*50 = 200-100=100
TR = P*Q=100*50 = 5000
TC = 10*Q= 10*50 = 500
TR-TC = 4500

4. M = 30000+500*8+1000*1 = 35000

5. Option C

6. Option a, it is at the point where total revenue reaches maximum value

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