Determine elasticity of demand at equilibrium price, Microeconomics

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Determine elasticity of demand at equilibrium price

You are given the following demand function for the ?rm: Q = 20 - p. Its total cost function is TC = Q2 + 8Q + 2. Find:

(a)pro?t-maximizing output!

(b)equilibrium price!

(c)elasticity of demand at the equilibrium price!

(d)pro?ts!

Is this ?rm a price-taker or price-searcher? Why?!

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Microeconomics: Determine elasticity of demand at equilibrium price

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Microeconomics: Determine elasticity of demand at equilibrium price

Reference No:- TGS0514145

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Recent Questions Asked Microeconomics

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Ask an Expert for Answer!!

Microeconomics: Determine elasticity of demand at equilibrium price

Reference No:- TGS0514145

Recent Questions Asked Microeconomics

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