Assume instead that the industry can sell any

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Reference no: EM1322898

Q. Assume a industry's inverse demand curve is given by P = 120 - 0.5Q also its cost equation is C = 420 + 60Q + Q2

a. Find out the industry's optimal quantity (Q), price also profit (1) by using the profit also marginal profit equations also (2) by setting MR = MC.

b. Assume instead that the industry can sell any also all of its output at the fixed marketplace price of P = 120. Find out the industries optimal output.

Reference no: EM1322898

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