Finding out the equilibrium price and quantity

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Reference no: EM1311295

"If every employer hired its best qualified applicants for a job at every opportunity, the phenomenon of black poverty (as distinct from poverty) could be wiped out in ten years." Do you agree/disagree? Comment.
You are given the following demand function for the firm:

Q = 20 - p. Its total cost function is TC = Q² + 8Q + 2. Find

(a) profit-maximizing output
(b) equilibrium price
(c) elasticity of demand at the equilibrium price
(d) profits

Is this firm a price-taker or price-searcher? Why?

Reference no: EM1311295

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