Determine the price elasticity of demand, Microeconomics

Assignment Help:

Given the following demand and total cost functions for a firm

P = 4500 - 0.5Q2                   

TC = 1.5Q3 - 50Q2 + 1000  

i) the marginal profit function                                       

ii) the profit maximizing output level                             

iii) the price elasticity of demand, given that Q = 50 units


Related Discussions:- Determine the price elasticity of demand

Concentration ratio cr4, "If for a certain market, the concentration ratio ...

"If for a certain market, the concentration ratio CR4 (the combined market share of the 4 largest firms) is 1, its Herfindahl index is at least 0.25." Describe the given statement.

The theory of Consumer Choice and Production and cost, ECM101 – MICROECONOM...

ECM101 – MICROECONOMIC POLICY ASSIGNMENT 1 General Guidelines: This assignment comprises two sections and you must answer all questions in each section. Answers must be explained

What main features are found in oligopolies, What main features are found i...

What main features are found in oligopolies? Assumptions of oligopoly Four or five firm concentration ratio Frequently there are benefits of scale to be had Merg

The market supply of labour, graphical illustration describing the influenc...

graphical illustration describing the influence of an increase in immigrants on the market supply of labour

Analyzing market product or services, Rationale of Group Project Group...

Rationale of Group Project Group project allows you to pursue authentic learning with your peers, and to apply theories taught in class and textbooks to real world situations.

Price adjustments under fixed exchange rate, PRICE ADJUSTMENTS UNDER FIXED ...

PRICE ADJUSTMENTS UNDER FIXED EXCHANGE RATE: In a flexible exchange rate regime trade deficits (surpluses) are automatically corrected by a depreciation (appreciation) of a co

Consumer behaviour, how do I explain the hicksian and slutsky theory of con...

how do I explain the hicksian and slutsky theory of consumer behaviour in an examination

Differentiate between economic development and growth, Problem: i) Diff...

Problem: i) Differentiate between economic development and economic growth. ii) Describe carefully how, using the expenditure approach, national income is calculated. ii

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd