You are a manager of a firm like J.P. Licks, a monopolistically competitive ice cream store...

 

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You are a manager of a firm like J.P. Licks, a monopolistically competitive ice cream store in Boston. You are determining the price and quantity of your Cookies 'n' Cream Pie. Economists you have hired report that the marginal cost of an ice cream pie is constant and is equal to $10 per pie. They also report that the demand is given by: Q = 300 - 10P, where Q is the quantity of ice cream pies demanded per day and P is their price. (Round your answer to two decimal places.) The profit-maximizing price of Cookies 'n' Cream Pies is $ The profit-maximizing quantity of Cookies 'n' Cream Pies is pies. You are a manager of a firm like J.P. Licks, a monopolistically competitive ice cream store in Boston. You are determining the price and quantity of your Cookies 'n' Cream Pie. Economists you have hired report that the marginal cost of an ice cream pie is constant and is equal to $10 per pie. They also report that the demand is given by: Q = 300 - 10P, where Q is the quantity of ice cream pies demanded per day and P is their price. (Round your answer to two decimal places.) The profit-maximizing price of Cookies 'n' Cream Pies is $ The profit-maximizing quantity of Cookies 'n' Cream Pies is pies.

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It is given that Q 30010P Thus 10P 300Q So P 30 1 10Q Because the dem... View the full answer