@@eloisadegila9583 th-cam.com/video/dvaRrxcCQHg/w-d-xo.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 TH-cam 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
th-cam.com/video/dvaRrxcCQHg/w-d-xo.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 TH-cam channel and click on the notification bell to get notified when ever I upload a new video.
th-cam.com/video/dvaRrxcCQHg/w-d-xo.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 TH-cam channel and click on the notification bell to get notified when ever I upload a new video.
Beautiful,so simple to understand
@@eloisadegila9583 th-cam.com/video/dvaRrxcCQHg/w-d-xo.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 TH-cam channel and click on the notification bell to get notified when ever I upload a new video.
Powerful work my guy
@@fangtituskupein8996 thank you sir.
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.
What should I solve for?
Watch this video and you will be able to answer your question. th-cam.com/video/dvaRrxcCQHg/w-d-xo.html
th-cam.com/video/dvaRrxcCQHg/w-d-xo.html
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
please help me
Thank you for the video😊😊😊
th-cam.com/video/dvaRrxcCQHg/w-d-xo.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 TH-cam channel and click on the notification bell to get notified when ever I upload a new video.
Put units on the answers
Ok noted in our next videos I will do it
th-cam.com/video/dvaRrxcCQHg/w-d-xo.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 TH-cam channel and click on the notification bell to get notified when ever I upload a new video.