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Genrish500
11 hours ago
12

Suppose that an inventor discovers a new chemical compound that can change the color of a person's eyes with no negative side ef

fects. Since she holds a patent on this chemical, she has a monopoly over the sale of the new eye-color treatment. However, she's an inventor, not a businessperson. Which of the following statements explain to her how she should set the price for the eye-color treatment in order to maximize her profits?
a) The inventor should produce an output that maximizes total revenue.
b) The inventor should price her product so that price equals marginal cost for the marginal unit.
c) The inventor should establish the marginal revenue and cost for each additional unit produced.
d) The inventor should produce all the units for which marginal revenue equals or exceeds marginal cost.
e) The inventor needs to establish the demand for her product using market research.
f) The inventor needs to establish the supply for her product using market research.
Business
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Desiree works 28 hours per week. She has a monthly income of $120 from investments. Desiree also plays in a band one night a wee
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$1.50. Explanation: Desiree earns $120 monthly from her investments. Therefore, her annual investment income amounts to $120 x 12 = $1,440. Additionally, as a band member, she earns $200 weekly, translating to an annual band income of $200 x 52 weeks = $10,400. If her total annual income totals $49,696, her salary income is calculated as $49,696 - ($1,440 + $10,400) = $49,696 - $11,840 = $37,856. This leads to weekly earnings of $37,856 / 52 = $728. Consequently, her hourly rate is determined by $728 / 28 = $26. Desiree aspires to achieve an annual income of $51,880, and assuming her investment and band revenues remain constant, she needs to make $51,880 - $11,840 from her salary, equating to $40,040 annually. Thus, her updated weekly earnings would be $40,040 / 52 = $770 and new hourly earnings of $27.5. Hence, the raise she should request is ($27.5 - $26) = $1.50.
4 0
1 month ago
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