A manufacturer of spare parts faces the demand curve, P = 800 2Q, And produces output
Question:
A manufacturer of spare parts faces the demand curve,
P = 800 − 2Q,
And produces output according to the cost function,
C = 20,000 + 200Q + .5Q2.
a. Create a spreadsheet modeled on the example shown.7 (The only numerical value you should enter is the quantity in cell B7. Enter appropriate formulas to compute all other numerical entries.)
b. What is the firm’s profit-maximizing quantity and price? First, determine the solution by hand—that is, by changing the quantity value in cell B7.
c. Use your spreadsheet’s optimizer to confirm your answer to part a.
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a and b Setting MR MC implies 800 4Q 200 ...View the full answer
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Related Book For 
Managerial Economics
ISBN: 978-1118808948
8th edition
Authors: William F. Samuelson, Stephen G. Marks
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