A firm faces the demand schedule q 40 - p05 where p05 0 q, Microeconomics

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A firm faces the demand schedule q 40 - p05 where p05 0 q

Question: 1. A firm faces the demand schedule q = 40 - p0.5 (where p0.5 ≥ 0, q ≤ 40) and the cost schedule TC = q3 - 2.5q2 + 50q + 16. What price should it charge to maximize profit?

2. Find the MR function corresponding to the demand schedule q = (60 - 2.5p)0.5.

3. What is the point elasticity of demand when price is 20 for the demand schedule p = 45 - 1.5q?

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Microeconomics: A firm faces the demand schedule q 40 - p05 where p05 0 q

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Microeconomics: A firm faces the demand schedule q 40 - p05 where p05 0 q

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