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Find the shut-down price

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Reference no: EM13877081

The total cost function for a noncompetitive firm is given as

TC = 2Q3:- 25Q2:+ 150Q + 400

Assume the market demand function is

P = 5000 - 30Q + 0.2Q2: Q 62.5

(a) Determine the short-run profit maximizing level of output for the firm and the market price.

(b) Find the normal profit level of output for the firm and the market price.

(c) Find the shut-down price.

Reference no: EM13877081

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