Question

Q1- A manufacturer estimates that its variable cost for
manufacturing a product is given by the following expression: C(q)
= 25q 2 + 2000q [$] where C is the total cost and q is the quantity
produced. Derive expressions for the revenue and the profit,
substitute if q=10

Q2- Economists estimate that the supply function and demand
function for the widget market is given by the following
expressions: q = 0.2 · π − 40 π = −10q + 2000 π = 5q + 200 Draw
demand and supply curves as a function of q and calculate; a- the
demand and price at the market equilibrium.

b- For this equilibrium, calculate the consumers’ gross surplus,
the consumers’ net surplus, the producers’ revenue, the producers’
profit and the global welfare.

Answer #1

You have asked multiple unrelated questions in the same post. I have addressed the first question. Please post the balance question, separately.

Also please don't downvote the solution merely because I have answered only one question. Please!!

----------------------

Q - 1

C(q) = 25q^{2} + 2,000q

The company will produce and sell till the time revenue per unit= marginal cost

Marginal cost = dC(q)/dq = 50q + 2,000

Hence, revenue per unit = marginal cost = 50q + 2,000

Hence, expression for revenue = R(q) = Reveue per unit x q =
(50q + 2,000) x q = 50q^{2} + 2,000q

And expresssion for profit = P(q) = R(q) - C(q) =
50q^{2} + 2,000q - (25q^{2} + 2,000q) =
25q^{2}

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