Total revenue exceeds peak

I know that when Total Revenue reaches its peak (TR=1), then the Marginal Revenue =0, but when Total Revenue exceeds its peak, what does the Marginal Revenue reach?

Market Supply of labor

Hourly Hours per Week Wage Q1 Q2 Q3 QT $5 20 0 0 6 25 0 0 7 35 10 0 8 45 25 10 9 42 40 30 10 38 37 45 Calculate the total hours per week (QT) Which individuals, if any, have backward-bending supply curves in the wage range shown? ... click for more

Support Prices

A medium sized honey farmer operates in a market that fits the competitive market definition pretty well...honey farmers are also assisted by support prices above the price that would prevail in the absence of controls. The owner, along with some other owners, are complaining that they can't make profits even with the support prices. Why? Explain why higher support prices would not help the farmers in the long run.

Which of these three companies would probably improve its product costing accuracy most by converting to activity-based costing (ABC)?

The percentages of product costs comprised by direct materials, direct labor, and manufacturing overhead for three companies are as follows: Company A B C Direct Materials 7% 21% 42% Direct labor 13 42 49 manufacturing overhead 80 37 9 100% 100% 100% Based on this information, which of these three companies would probably improve its prod... click for more

Maximizing Profits

1. Groovy Tuesday, a clothing manufacturer, has found that their costs can be approximated by the equation: C = 500 + 2Q2. The consulting firm they hired to estimate their current demand determined that demand is characterized by: Q = 450 – 2P. What level of production would maximize their profit? 2. Musical Melodies, a sheet music retailer, recently hired a management consulting firm to identify ways in which they can increase profit. You, the head consultant on the Musical Melodies case, have begun this analysis by collecting data on quantity demanded, average price of Musical Melodies music, the average price of a sheet of music through Crystal Copies, the average income of consum... click for more