CourseWork

Not Rated (0)

$15/per page/

About CourseWork

Levels Tought:
Elementary,Middle School,High School,College,University,PHD

Expertise:
Applied Sciences,Chemistry See all
Applied Sciences,Chemistry,Communications,Economics,Engineering,Environmental science Hide all
Teaching Since: Apr 2017
Last Sign in: 363 Weeks Ago, 5 Days Ago
Questions Answered: 352
Tutorials Posted: 351

Education

  • MBA,PHD in Psychology
    Northwest Florida State College
    Jun-1992 - May-1997

Experience

  • Professor
    Northwest Florida State College,
    Aug-2006 - Nov-2015

Category > Economics Posted 08 May 2017 My Price 9.00

The owner of an optometry practice,

The owner of an optometry practice, in a city with more than a hundred other such practices, has the following demand and cost schedules for eye exams:

Price

Eye

Total

Total

 

 

per

Exams

Cost

Revenue

 

 

Eye

per

per

per

Marginal

Marginal

Exam

Week

Week

Week

Revenue

Cost

$100

100

$10,500

$ 80

140

$10,800

$ 60

200

$11,300

$ 40

310

$12,290

$ 20

550

$14,762

a. Fill in the columns for total revenue, marginal revenue, and marginal cost. (Remember to put MR and MC between output levels.)

b. Briefly explain why an optometry practice (like this one) might face a downward-sloping demand curve, even if it is one out of more than a hundred.

c. Use the data you filled in for the marginal revenue and marginal cost columns to find the profit maximizing price and the profit-maximizing number of eye exams per week for this practice.

 

Answers

CourseWork
Not Rated (0)
Status NEW Posted 08 May 2017 11:05 AM My Price 9.00

Hel-----------lo -----------Sir-----------/Ma-----------dam-----------Tha-----------nk -----------You----------- fo-----------r u-----------sin-----------g S-----------obt-----------ell----------- an-----------d a-----------cqu-----------isi-----------tio-----------n o-----------f m-----------y p-----------ost-----------ed -----------sol-----------uti-----------on.----------- Pl-----------eas-----------e p-----------ing----------- me----------- on----------- ch-----------at -----------I a-----------m o-----------nli-----------ne -----------or -----------inb-----------ox -----------me -----------a m-----------ess-----------age----------- I -----------wil-----------l b-----------e c-----------atc-----------h

Not Rated(0)