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Assignment - Compute all answers in Excel, show your equations, and turn in only one spreadsheet with both answers on it
Q1. Assume:
TC = 4 + 2q + .6q2
P = 25 - 2q
What is the profit max price, Q, revenue, and cost?
Q2. Assume two markets;
Fish= Qs = 20+.1Pf Qd = 30 - .6Pf + .8Pl
Lamb= Qs = 5+.4 Pl Qd = 15 -.45Pl + .35Pf
Find the price of pizza and hamburger that clears both markets at the same time.
Note - Solved in excel spreadsheet.
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