Question

the demand function P=1600-4q is for trucks (p=price q=quantity) Average cost= (300/q)+20 is my TC=300+20q since...

the demand function P=1600-4q is for trucks (p=price q=quantity)

Average cost= (300/q)+20

is my TC=300+20q since TC=AC*Q

Q- How many trucks must be produced and sold to maximise total profit ?

Math   Calculus   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
Consider a firm with the demand function P(Q)=(50-2Q), and the total cost function TC(Q)=10,000+10Q. Find the...
Consider a firm with the demand function P(Q)=(50-2Q), and the total cost function TC(Q)=10,000+10Q. Find the profit maximizing quantity. Calculate the profit maximizing price (or the market price). Hint: MR(Q)=(50-4Q),
Consider a natural monopoly with the following total cost function: TC= 1000 + 20Q and the...
Consider a natural monopoly with the following total cost function: TC= 1000 + 20Q and the demand given by P = 140 - 2Q. If you would like to eliminate the deadweight loss completely, what pricing would you suggest that the government imposes on this monopoly. P=MC=20Q and a subsidy to make sure that the monopoly can cover the fixed cost P=AC=20 and a tax to move the quantity traded to the efficient level None of the other answers is...
Suppose the cost of producing q unit is c(q)=500-4q+q2 and the demand function is given by...
Suppose the cost of producing q unit is c(q)=500-4q+q2 and the demand function is given by p=14-2q A) Develop the total revenue, total cost (if not given), and profit functions. Explain these functions in few sentences. B) Compute the point elasticity of demand. C) Find the intervals where the demand is inelastic, elastic, and the price for which the demand is unit elastic. D) Find the quantity that maximizes the total revenue and the corresponding price. Interpret your result. E)...
1.Assume a single-price monopoly whose: Demand is P = 100 – 4Q, TC = 50 +...
1.Assume a single-price monopoly whose: Demand is P = 100 – 4Q, TC = 50 + 20q, TR = PQ = 100q – 4Q2. a.What is the profit maximizing-output for this monopoly? b.What P does this charge? c.What is the profit level for this firm? d.Is this monopoly efficient or not?
Problem VII: The average total cost of a monopolistic rm is ATC = 80/Q +20Q. The...
Problem VII: The average total cost of a monopolistic rm is ATC = 80/Q +20Q. The firm is facing the demand function given by P = 6000 - 20Q. a) What will be the total profit that this rm will generate if it chooses price and quantity optimally? (Prot=224920) b) What would be the profit of this rm if it behaved competitively? (Prot=199920) c) What would be the long run equilibrium price if this market was competitive? (80)
The demand function for a certain product is p = 3000, where q is the quantity...
The demand function for a certain product is p = 3000, where q is the quantity of the product produced and q sold while p is the unit price when q units are produced. Find the point elasticity of demand when q = 300. Is the demand elastic, inelastic, or unit elastic when q = 300?
Let the demand function of natural monopolist be Q = 50 - 5P and the cost...
Let the demand function of natural monopolist be Q = 50 - 5P and the cost function be TC = 10 + 2Q. Here TC represents total cost, P represents price and Q is quantity. What is the average cost and total profit of the natural monopolist in the selected energy market?
Your hospital has a demand function given by P = 404 - 2Q where P is...
Your hospital has a demand function given by P = 404 - 2Q where P is the price of hospital care and Q is the quantity of hospital care. The marginal revenue (MR) function is given by MR = 404 – 4Q. The total cost function (TC) is given by TC = 300 + 4Q + 8Q2 and the marginal cost (MC) is given by MC = 4 + 16Q. Find the total revenue (TR) function which is a function...
Monopoly problem: Find TR (total revenue), TC (total cost), P (price), Q (quantity), Profit & elasticity...
Monopoly problem: Find TR (total revenue), TC (total cost), P (price), Q (quantity), Profit & elasticity Given: TC=10,000+100Q+0.20Q^2 Qd (demand)=20,000-10P
Monopoly problem: Find TR (total revenue), TC (total cost), P (price), Q (quantity), Profit & elasticity...
Monopoly problem: Find TR (total revenue), TC (total cost), P (price), Q (quantity), Profit & elasticity Given: TC=10,000+100Q+0.20Q^2 Qd (demand)=20,000-10P
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT