Friday
March 27, 2015

Homework Help: managerial economics

Posted by bernadette on Friday, November 20, 2009 at 2:29pm.

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

Economics - The cost function for a firm is given by TC = 500 + Q2. The firm ...
economics - perfectly competitive industry. Each firm having identical cost ...
Microeconomics - A perfectly competitive industry has a large number of ...
economics - 5. A market contains a group of identical price-taking firms. Each ...
economics - The graph on the left shows the short-run marginal cost curve for a ...
economics - suppose a competitive market consists of identical firms with a ...
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...
Micreoeconomics - 1. Assume a perfectly competitive constant cost industry, ...
Economics - a firm in a purely competitive industry is currently producing a ...

Members