demand and total cost functions
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If the demand, and total cost functions are:
P = 28 - 0.0008Q
TC = 120,000 + 0.0006Q2
a. How many subscribers would be expected if Company A was allowed to operate completely unregulated?
b. How many subscribers would be expected if Company A acted like a perfect competitor?
c. How many subscribers would be expected if the government did not allow Company A to charge more than $18 for price?
d. What is the profit if Company A is allowed to operate completely unregulated?
e. What would be the deadweight loss if Company A acted like a perfect competitor?
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This job reiterates demand and total cost functions.
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