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October 25, 2014

Homework Help: Economics

Posted by Leila on Monday, March 10, 2008 at 10:45pm.

Demand function for Zatab:

Qd = 15.0 - 0.2P
Q = annual quantity demanded
P = wholesale price of one Zatab unit

Production cost per unit: $5
Mirk Lab incurred a $60 million R&D cost a decade ago

1: What wholesale price will Mirk Labs set?

2: How much Zatab will it produce and
sell annually?

3: How much annual profit does the firm make on Zatab?

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