A firm produces output at a cost of: C = 50 + 20 X and sells it at a price of P = 220 - 4 X
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Marginal cost can be found by taking the differential of the cost ...
Given the following Demand & Supply functions:
Qd = 25 – P
Qs = 10 + 2P
a – What is the equilibrium values of P and Q?
Now suppose the demand function changes to:
Qd = 10,000 – 2P
If Total Cost function is:
TC = 5000 + 50Q
b - Find the Profit – maximizing Quantity and Price.
c – Find the firm’s profit.
Given the following Demand and Cost functions for a monopolistically competitive firm:
Qd = 100,000 - 20P
TC = 1,000 + 10Q + .05Q to the power of 2
a. Find the profit maximizing Quantity and Price.
b. Find the Profit.