Posted by **Jim** on Tuesday, May 3, 2011 at 10:10am.

Q = 39,000 – 500P

AVC = 30 + 0.005Q

Q is quantity demanded and produced, and P is price of the product. Total fixed cost is $50,000. Assume these functions are based on monthly demand and production.

A. What are the inverse demand and the MR revenue equations?

B. What is the profit maximizing output of this firm?

C.What is the price at the profit maximizing output?

d. What is the firm’s total profit?

## Answer this Question

## Related Questions

- ECONOMICS - Q = 39,000 – 500P AVC = 30 + 0.005Q Q is quantity demanded and ...
- Microeconomics - Am I calculating the Marginal Revenue when you get the quantity...
- accounting - "Harris Company manufactures and sells a single product. A ...
- ecomonics - I am trying to understand the math part of supply and demand . I am ...
- Economics - The accompanying table shows a car manufacturer’s total cost of ...
- Economics - 10. An industry currently has 100 firms, all of which have fixed ...
- economics - A firm currently uses 40,000 workers to produce 180,000 units of ...
- accounting - Required a. Determine the gross profit margin for each product ...
- Economics - The Ali Baba Co is the only supplier of a particular type of ...
- Managerial Economics - Suppose that Neptune Music has the copyright to the ...

More Related Questions