Economics of Enterprise Answers

Consider total cost and total revenue given in the following table:

Quantity01234567Total cost$88101113192737Total revenue $08162432404856

a. Calculate profit for each quantity. How much should the firm produce to maximize profut ?

b. Calculate marginal revenue and marginal cost for each quantity. Graph 

them. (Hint: Put the points between whole numbers. For example, the 

marginal cost between 2 and 3 should be graphed at ) At what quantity do these curves cross? How does this relate to your answer to part (a)?

c. Can you tell whether this firm is in a competitive industry? If so, can you 

tell whether the industry is in a long-run equilibrium?

Characteristic of s partnership business and also were could it be located. How does it function and which services can be rendered

1. Given the utility fucntion u =150x +40x²-x³derive average and marginal utility functions, Find the value of X at which total utility is maximum, and the value of X at which average utility is maximinum?

On the day his grandson was born, a man deposited with a trust company a sufficient amount of money so that the boy could receive five annual payments of P2,000 each starting with his 18th birthday. Interest at the rate of 9% per annum was to be paid on all amounts on deposit. There also was a provision that the grandson could elect to withdraw no annual payments and receive a sing lump amount on his 23rd birthday. The grandson chose this option. How much did the boy receive as the single payment?

P1,000,000.00 pesos is needed at the end of each year to maintain each building in Rizal Technological University in Mandaluyong. If money increases at 12% per annum in a investment, how much money need to invest directly so the local government of Mandaluyong can reduce the annual cost by P250,000? *

Given the utility fucntion , derive average and marginal utility functions, Find the value of X at which total utility is maximum, and the value of X at which average utility is maximinum

1.     Suppose we have the utility function, U = XY + X + Y.

a.      Find the function for the marginal rate of substitution.

1. If prices are P_x = $2 and P_y = $4, and if income is M = $18, find the utility maximizing consumption bundle.

1.     Suppose we have the utility function, U = XY + X + Y.

a.      Find the function for the marginal rate of substitution.

1. If prices are P_x = $2 and P_y = $4, and if income is M = $18, find the utility maximizing consumption bundle.

Two goods have a cross-price elasticity of demand of +1.2 (a) would you describe the goods as substitutes or complements? (b) If the price of one of the goods rises by 5 per cent, what will happen to the demand for the other good, holding other factors constant? 

The largest category of local revenue is

Group of answer choices

sales tax.

income tax.

property tax.

payroll tax.