Find the firms optimal quantity-price and profit

Assignment Help Econometrics

Reference no: EM13207863

a. Suppose a firm's inverse demand curve is given by P=120 - .5Q, and its cost equation is C = 420 + 60 Q + Q^2.

a) Find the firm's optimal quantity, price, and profit

(1) by using the profit and marginal profit equations and

(2) by setting MR equal to MC. Also provide a graph of MR and MC.

b) Suppose instead that the firm can sell any and all of its output at the fixed market price P= 120. Find the firm's optimal output.

Reference no: EM13207863

Questions Cloud

Explain what benefits ipv6 will provide for her business : She wants to know if she should upgrade her information systems to IPv6. If so, explain what benefits IPv6 will provide for her business.

Design an application to take and process a pizza order : Design an application to take and process a pizza order. The user should be able to make pizza order choices from listboxes, and the application should display the order price.

Is snort an hids or an nids : What kind of file is Snort output (logging info) stored in? 7. Can you use Snort with network switches? With hubs? 8. What operating system(s) does Snort run on?

Discuss a moral dilemma : which you discuss a moral dilemma you have faced recently in your professional life. Address the following in your paper:

Find the firms optimal quantity-price and profit : Suppose a firm's inverse demand curve is given by P=120 - .5Q, and its cost equation is C = 420 + 60 Q + Q^2. a)Find the firm's optimal quantity, price, and profit (1) by using the profit and marginal profit equations and (2) by setting MR equal to..

True of company towns : All of the following were true of company towns EXCEPT:

What have you won if the rate of discount is increased : if the rate discount is 20 percent, A. would you rather receive $ 100 today or $ 120 in one year B. would you rather receive $ 205 today or $ 240 in one year C. would you rather receive $ 500 in one year

Describe each area''s involvement in global patterns : In terms of Middle East and North Africa, analyze the relationship to global trade patterns changed from 1200-1750 describe each area's involvement in global patterns around them use 1200 as your starting point

Compare the effect of the tanf program on work : Suppose a single parent can work up to 16 hours per day at a wage rate of $10.00 per hour. Various income maintenance programs have been developed to assure a minimum level of income for low-income families, such as Aid to Families with Dependent ..

User Account

All Pages