Assume that the demand for tuna in a small coastal town is given by p = 400,000 q1.5 , where q is the number of pounds of tuna that can be sold in a month at p dollars per pound. assume that the town's fishery wishes to sell at least 5,000 pounds of tuna per month. (a) how much should the town's fishery charge for tuna to maximize monthly revenue? hint [see example 3, and don't neglect endpoints.] (round your answer to the nearest cent.) p = $ per lb (b) how much tuna will it sell per month at that price? q = lb (c) what will be its resulting revenue? (round your answer to the nearest dollar.) $ per month

Which of the following is an example of search costs? a.) driving to a faraway place to find available goods b.) buying goods in some special way that is outside the normal channels c.) paying a premium cost for goods d.) selling extra goods for a discount price

Why is efficiency an important economic goal?

Rolston music company is considering the sale of a new sound board used in recording studios. the new board would sell for $27,200, and the company expects to sell 1,570 per year. the company currently sells 2,070 units of its existing model per year. if the new model is introduced, sales of the existing model will fall to 1,890 units per year. the old board retails for $23,100. variable costs are 57 percent of sales, depreciation on the equipment to produce the new board will be $1,520,000 per year, and fixed costs are $1,420,000 per year. if the tax rate is 35 percent, what is the annual ocf for the project?