Suppose You Are the Manager of Alpha Enterprises,a Firm That

question 66

Essay

Suppose you are the manager of Alpha Enterprises,a firm that holds a patent that makes it the exclusive manufacturer of bubble memory chips.Based on the estimates provided by a consultant,you know that the relevant demand and cost functions for bubble memory chips are Q = 25 - 0.5P; C = 50 + 2Q.
a.What is the firm's inverse demand function?
b.What is the firm's marginal revenue when producing four units of output?
c.What are the levels of output and price when you are maximizing profits?
d.What will be the level of your profits?

---

Definitions:

Self-Regulation

The process by which an organism effortfully controls its behavior in order to pursue important objectives.

Maslow's Hierarchy

A theory in psychology proposed by Abraham Maslow, which outlines a hierarchy of human needs, from basic physiological needs to self-actualization.

Direct Labor

The earnings of staff members actively engaged in manufacturing products or delivering services.

Rate Variance

The difference between an expected rate and the actual rate charged, often analyzed in budgeting and performance evaluation.