You are the manager of a monopolistically competitive firm, Business Economics

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You are the manager of a monopolistically competitive firm

You are the manager of a monopolistically competitive firm. The present inverse demand curve you face is P = 100 – 4Q (MR = 100 – 8R). Your cost function is C(Q) = 50 + 8.5Q2 and MC(Q) = 17Q.

What level of output should you choose to maximize profits?

What price should you charge?

What will happen in your market in the long run? Explain?

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Business Economics: You are the manager of a monopolistically competitive firm

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Business Economics: You are the manager of a monopolistically competitive firm

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