You have the following information about demand (Q), price (P), variable cost (V), and fixed cost (F):

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Question:

Q=100,000-10,000P

P=$(10-0.0001Q)

V=$5/unit

F=$10,000

Use calculus to determine the profit-maximizing price (P) and quantity (Q). Show all your calculations. [5]

Related Book For answer-question

Principles of economics

ISBN: 978-0538453042

6th Edition

Authors: N. Gregory Mankiw

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Posted Date: Mar 14, 2023 12:43 AM

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You have the following information about demand (Q), price (P), variable cost (V), and fixed cost (F):

Question:

Expert Answer:

To determine the profitmaximizing price P and quantity Q we need to first derive the profit function ... View the full answer

Principles of economics

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