2. There are 50 consumers of the product X. The demand function of each person is...
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2. There are 50 consumers of the product X. The demand function of each person is similar and has the form P = 280 - 50 * Q / 4. This product is manufactured by 1 manufacturer with the following cost function: TVC = (1/6) Q² + 30Q and TFC = 15,000. Determine: 1. The demand function of the market. 2. Price and Quantity to maximize profit. 3. The profit. 4. The price and Quantity If the company wants to maximize the output without losses. 5. The price and Quantity to achieve normalized profit over 30% average cost. 2. There are 50 consumers of the product X. The demand function of each person is similar and has the form P = 280 - 50 * Q / 4. This product is manufactured by 1 manufacturer with the following cost function: TVC = (1/6) Q² + 30Q and TFC = 15,000. Determine: 1. The demand function of the market. 2. Price and Quantity to maximize profit. 3. The profit. 4. The price and Quantity If the company wants to maximize the output without losses. 5. The price and Quantity to achieve normalized profit over 30% average cost.
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Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
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