Question 1. Detailer Revenue Maximization Using data from their survey, the Detailer team has estimated that the demand for the Detailer can be expressed by the following linear equation: Quantity sold = 66,773 – 3413.6 Price a) The team wants to know what price they should charge to give them the highest possible level of revenue. Find this price using Solver. Price- $9.78, Revenue $326,534b) If we assume the Detailer will cost $5.65 per unit to produce, what is the profit maximizing price? Whyis this different from the price that maximizes revenue? The profit maximizing price is $12.61. This is different than the price that maximizes revenue because due to the cost of production, the price that maximizes revenue has about $28,000 lower in profit. c) A member of the team thinks that de

Which of the following statements regarding the learning curve and economies of scale is accurate? answers: just as diseconomies of scale are presumed to exist if a firm gets too large, there is a corresponding increase in costs in the learning-curve model as the cumulative volume of production grows. where diseconomies of scale are presumed to exist if a firm gets too large, there is no corresponding increase in costs in the learning-curve model as the cumulative volume of production grows. where diseconomies of scale are presumed to exist if a firm gets too small, there is no corresponding increase in costs in the learning-curve model as the cumulative volume of production grows. just as diseconomies of scale are presumed to exist if a firm gets too small, there is a corresponding increase in costs in the learning-curve model as the cumulative volume of production grows.

3. describe the purpose of the sec. (1-4 sentences. 2.0 points)

Florence invested in a factory requiring. federally-mandated reductions in carbon emissions. how will this impact florence as the factory's owner? a. her factory will be worth less once the upgrades are complete. b. her factory will likely be bought by the epa. c. florence will have to invest a large amount of capital to update the factory for little financial gain. d. florence will have to invest a large amount of capital to update the factory for a large financial gain.