Suppose you are provided the total cost of a firm, TC = 20 +5q+q2. If the...
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Suppose you are provided the total cost of a firm, TC = 20 +5q+q2. If the market price of the good is $25, find the equilibrium output, total revenue, and profit. What is the shut-down price for the firm? (7.5) A monopolist faces a demand curve Q=100-2P. The total cost function of the monopolist is TC = 2.5q² +10g, Find the equilibrium level of output, price, profit, consumer surplus, producer surplus, and deadweight loss in the market. Also graphically show the equilibrium. (12.5) Suppose you are provided the total cost of a firm, TC = 20 +5q+q2. If the market price of the good is $25, find the equilibrium output, total revenue, and profit. What is the shut-down price for the firm? (7.5) A monopolist faces a demand curve Q=100-2P. The total cost function of the monopolist is TC = 2.5q² +10g, Find the equilibrium level of output, price, profit, consumer surplus, producer surplus, and deadweight loss in the market. Also graphically show the equilibrium. (12.5)
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ANSWER 1 The total cost of the firm is given by TC 20 5q q2 The market price of the good is 25 To find the equilibrium output we need to equate margin... View the full answer
Related Book For
Horngrens Financial and Managerial Accounting
ISBN: 978-0133866292
5th edition
Authors: Tracie L. Nobles, Brenda L. Mattison, Ella Mae Matsumura
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