Sunday
April 20, 2014

Homework Help: Economics

Posted by Special on Friday, November 20, 2009 at 1:42pm.

The cost function for a firm is given by TC = 500 + Q2. The firm sells output in a
perfectly competitive market and other firms in the industry sell at a price of $100.

a) What price should the manger of this firm put on its product?

b) What level of output should be produced to maximize profits?

c) How much profit will be earned?

Answer this Question

First Name:
School Subject:
Answer:

Related Questions

managerial economics - The cost function for a firm is given by TC = 500 + Q2. ...
economics - perfectly competitive industry. Each firm having identical cost ...
economics - The graph on the left shows the short-run marginal cost curve for a ...
Microeconomics - A perfectly competitive industry has a large number of ...
Economics - Suppose a perfectly competitive firm has a cost function described ...
Economics/Math - Suppose there are four firms in a competitive market and that ...
managerial economics - Total cost function of a firm is TC= 200+4Q+2Q squared If...
Economics/Math - In a perfectly competitive industry, the market price is $25. A...
economics - suppose a competitive market consists of identical firms with a ...
Micreoeconomics - 1. Assume a perfectly competitive constant cost industry, ...

Search
Members