What are the total monthly revenues costs

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Reference no: EM131792741

A retiree from a large Atlanta financial services firm decides to keep busy and supplement her retirement income by opening a small upscale folk art company near Charleston, South Carolina.

The company, Sand Dollar Art, manufactures and sells in a purely competitive market, and the following monthly market information for x units at $p per unit applies;

Demand : p=2000-4.5x
Supply : p=100+0.25x

(a) Find the market equilibrium quantity and price for this market.

(b) If Sand Dollar Art's monthly cost function is C(x) = 400 + 100x - x2 find the profit-maximizing monthly quantity. What are the total monthly revenues and total monthly costs? What monthly profit does Sand Dollar Art earn?

Reference no: EM131792741

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