Maurice Tutor

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Teaching Since: May 2017
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  • MCS,PHD
    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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  • Professor
    Phoniex University
    Oct-2001 - Nov-2016

Category > Accounting Posted 01 Aug 2017 My Price 2.00

marginal profit equations

  1. Suppose a firm’s inverse demand curve is given by P = 120 - .5Q and its cost equation is C = 420 + 60Q + Q 2 .

    1. Find the firm’s optimal quantity, price, and profit (1) by using the profit and marginal profit equations and (2) by setting MR equal to MC. Also provide a graph of MR and MC.

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

Answers

Maurice Tutor
(5)
Status NEW Posted 01 Aug 2017 11:08 PM My Price 2.00

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