Find firm-s optimal quantity price-profit using equations, Microeconomics

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Find firm-s optimal quantity price-profit using equations

Suppose a firm's inverse demand curve is given by P = 120 - 0.5Q and its cost equation is C = 420 + 60Q + Q2

a. Find the firm's optimal quantity (Q), price, and profit (1) by using the profit and marginal profit equations and (2) by setting MR = MC.

b. Suppose instead that the firm can sell any and all of its output at the fixed market price of P = 120. Find the firms optimal output.

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Microeconomics: Find firm-s optimal quantity price-profit using equations

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Microeconomics: Find firm-s optimal quantity price-profit using equations

Reference No:- TGS071480

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Recent Questions Asked Microeconomics

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Microeconomics: Find firm-s optimal quantity price-profit using equations

Reference No:- TGS071480

Recent Questions Asked Microeconomics

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