I would like to have the following sample problems solved in EXCEL format so that I can see the formula used.

1. TC = 17 + 2q2

Suppose the firm's output can be sold (in integer units) at $57 per unit.

Using calculus and formulas (but no tables or spreadsheets) to find a solution, HOW MANY UNITS should the firm produce to maximize profit?

2. Assume that a monopolist faces a demand curve for its product given by:

p = 80 - 2q

Further assume that the firm's cost function is:

TC = 560 + 13q

Using calculus and formulas (but no tables or spreadsheets) to find a solution, WHAT IS THE PROFIT (rounded to the nearest integer) for the firm at the optimal price and quantity?

Round the optimal quantity to the nearest hundredth before computing the optimal price, which you should then round to the nearest cent. Note: Non-integer quantities may make sense when each unit of q represents a bundle of many individual items.

Hint: Define a formula for Total Revenue using the demand curve equation. Then take the derivative of the Total Revenue and Total Cost formulas. Use these derivative equations to perform a marginal analysis.

Solution Summary

The problem set deals with finding the quantity from demand equation and maximum revenue.

Why marginalanalysis is so important in managerial economics? Give examples of how this type of analysis can help a managerial decision maker. What are some limitations to using marginalanalysis?

The cost function for a business is shown in the table below (where Q is the level of output):
Q (units) Cost
0 8
1 24
2 38
3 44
4 51
5 52
6 59
7 65
8 79
9 95
10 125
Calculate the (a) marginal cost and (b) the average total cost schedules.

The level of an economic activity should be increased to the point where the __________ is zero.
a marginal cost
b average cost
c net marginal cost
d net marginal benefit
e none of the above

Please help with the following problem.
The cost of pollution (in billions of dollars) originating in the paper industry is
C_P = 2P + P^2
where P is the quantity of pollutants emitted (in thousands of tons). The cost of pollution control (in billions of dollars) for this industry is
C_C = 5 - 3P
a. What is th

Which of the following relationships is correct?
a. When marginal product starts to decrease, marginal cost starts to decrease.
b. When marginal cost starts to increase, average cost starts to increase.
c. When marginal cost starts to increase, average variable cost starts to increase.
d. When margina

1.
An economist estimated that he cost function of single-prodcut firm is
C(Q) = 100 + 20Q + 15Q2 + 10Q3
Based on this information, determine:
a. The fixed cost of producing 10 units of output
b. The variable cost of producing 10 units of output
c. The total cost of producing 10 units of output
d. The average fixed cos

For each of the following situations, decide whether Al has increasing, constant, or diminishing marginal utility.
a. The more economics classes Al takes, the more he enjoys the subject. And the more classes he takes, the easier each one gets, making him enjoy each additional class even more than the one before.
b. Al likes

1. Which gives you greater total utility, 12 gallons of water per day or 20 gallons per day? Why?
2. At which level do you get greater marginal utility, 12 gallons per day or 20 gallons per day? Why?

Answer the following question in your own words without quoting anyone:
In economics, when you plot cost and revenue on the Price-Quantity axis, the profit maximization condition is when marginal cost is equal to marginal revenue. This is a crucial notion to understand. Without it one can't effectively analyze profits. Does t