C
Catherine W.
Guest
Can some one please help me figure this out? I can't seem to get it.
Consider a firm that has its total cost function described by: C=100 + 2Q^2 and faces a market inverse demand function described by: P=90-2Q (C is total cost, P is price, and Q is quantity.)
a) Find the values for this firm's price, quantity and level of profit (show calculations)
b) What is the value of the price elasticity of demand at this firm's profit maximizing price and quantity?
This would help me so much!
Consider a firm that has its total cost function described by: C=100 + 2Q^2 and faces a market inverse demand function described by: P=90-2Q (C is total cost, P is price, and Q is quantity.)
a) Find the values for this firm's price, quantity and level of profit (show calculations)
b) What is the value of the price elasticity of demand at this firm's profit maximizing price and quantity?
This would help me so much!