{"id":23730,"date":"2022-01-09T11:30:57","date_gmt":"2022-01-09T11:30:57","guid":{"rendered":"https:\/\/assignmenttutors.net\/blog\/johnny-rockabilly-has-just-finished-recording-his-latest-cd-his\/"},"modified":"2022-01-09T11:30:57","modified_gmt":"2022-01-09T11:30:57","slug":"johnny-rockabilly-has-just-finished-recording-his-latest-cd-his","status":"publish","type":"post","link":"https:\/\/assignmenttutors.net\/blog\/johnny-rockabilly-has-just-finished-recording-his-latest-cd-his\/","title":{"rendered":"Johnny rockabilly has just finished recording his latest cd.? his"},"content":{"rendered":"<div>\n<p>Johnny Rockabilly has just finished recording his latest CD.? His record company&#8217;s marketing department determines that the demand for the CD is as follows:<\/p>\n<p>Price____________________Number of CDs<\/p>\n<p>$24_____________________10,000<\/p>\n<p>$22_____________________20,000<\/p>\n<p>$20_____________________30,000<\/p>\n<p>$18_____________________40,000<\/p>\n<p>$16_____________________50,000<\/p>\n<p>$14_____________________60,000<\/p>\n<p>\u00a0<\/p>\n<p>The company can produce the CD with no fixed cost and a variable cost of $5 per CD.<\/p>\n<p>a)\u00a0\u00a0\u00a0\u00a0\u00a0 Find the total revenue for quantity equal to 10,000, 20,000, and so on. What is the marginal revenue for each 10,000 increase in the quanitity sold?<\/p>\n<p>b)\u00a0\u00a0\u00a0\u00a0\u00a0 What quanitity of CDs would maximize profit? What would the price be? What would the profit be?<\/p>\n<p>c)\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 If you were Johnny&#8217;s agent, what recording fee would you advise Johnny to demand from the record company? Why?<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Johnny Rockabilly has just finished recording his latest CD.? His record company&#8217;s marketing department determines that the demand for the CD is as follows: Price____________________Number of CDs $24_____________________10,000 $22_____________________20,000 $20_____________________30,000 $18_____________________40,000 $16_____________________50,000 $14_____________________60,000 \u00a0 The company can produce the CD with no fixed cost and a variable cost of $5 per CD. a)\u00a0\u00a0\u00a0\u00a0\u00a0 Find the [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16],"tags":[],"class_list":["post-23730","post","type-post","status-publish","format-standard","hentry","category-education"],"_links":{"self":[{"href":"https:\/\/assignmenttutors.net\/blog\/wp-json\/wp\/v2\/posts\/23730","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/assignmenttutors.net\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/assignmenttutors.net\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/assignmenttutors.net\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/assignmenttutors.net\/blog\/wp-json\/wp\/v2\/comments?post=23730"}],"version-history":[{"count":0,"href":"https:\/\/assignmenttutors.net\/blog\/wp-json\/wp\/v2\/posts\/23730\/revisions"}],"wp:attachment":[{"href":"https:\/\/assignmenttutors.net\/blog\/wp-json\/wp\/v2\/media?parent=23730"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/assignmenttutors.net\/blog\/wp-json\/wp\/v2\/categories?post=23730"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/assignmenttutors.net\/blog\/wp-json\/wp\/v2\/tags?post=23730"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}