Calculate optimal level of production in tonnes for producer, Marketing Management

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Calculate optimal level of production in tonnes for producer

Problem

A competitive market for chocolate 100,000 identical producers in Swiss, a competitive market price of $10 and the following MC for each producer: MC = $0.5Q

1. Calculate the optimal level of production in tonnes for each producer (show workings)

2. Assuming 100,000 producers of equal size how many tonnes of chocolate in total will be supplied in the entire market? (Show all workings).

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Marketing Management: Calculate optimal level of production in tonnes for producer

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Marketing Management: Calculate optimal level of production in tonnes for producer

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