1. A firm is a monopolistic producer of two goods. The prices are related to quantities Q1 and Q2 according to the demand functions P = 50- Q1 and P2 95 -3Q2. If the total cost function is TC = Q? + 3Q,Q2 + Q², i) Find the firm's total revenue function. ii) Find the firm's total profit function. iii) Calculate the values of Q1 and Q2 which maximize profit. iv) Using the second order condition (SOC), prove that the profit level is at a maximum.

Q: n the cost department of a certain company, it has been established that the total marginal costs…

A: The marginal cost can be given by the formula MC=dCdQ. Here, C is the cost function and Q is the…

Q: 28. Sweet Delight Candies, Inc., has daily fixed costs from salaries and build- ing operations of…

A: (a) Let the number of pounds of candies be x.The total production cost for x pounds of candy is =…

Q: Suppose that the market research found the following relationships for Apple's iPhone 14 in 2022…

A: The supply equation is:2q-14p=100The demand equation is:15q+p=4200

Q: Suppose the supply for a certain textbook is given by p = 9ʻ and demand is given by p= - (a) How…

A: Here the supply for a certain textbook is given by p=15q2...............(1) and demand is given by…

Q: Suppose the production function for an airframe is Q = LK (Quantity = labor x capital) The price of…

A:

Q: If the demand for a pair of shoes is given by 2p+5q=300

A: Demand for a pair of shoes is given:                          2p + 5q = 300

Q: Suppose the supply curve for a certain brand of smartwatches is given by q = 0.06p + 255 and the…

A: Given: The supply curve of a certain brand of smart watches is q = 0.06 p + 255. The demand curve is…

Q: Suppose that the long-lasting light bulb supply equation is given by p = 1.04 q- 7.03 and that the…

A: At equilibrium quantity demanded is equal to quantity supplied.

Q: P= Qs°+12QS+ 32, P=-Q²-4 Qd + 200

A: The supply and demand function are respectively given as. Equilibrium occurs when the supply…

Q: Identify the relationship that exists between the 2 variables. As the weather gets colder, air…

A: The statistical relation between two variables is called correlation.

Q: The supply equation for a new crop is given by p=2x+5 and the demand equation is given by p= -x + 11…

A: Given query is to find equilibrium price.

Q: A manufacturer has been selling 1600 television sets a week at $390 each. A market survey indicates…

A:

Q: Suppose a company is willing to sale some product at certain price. if the supplied quantity S is…

A:

Q: A company supplies a product according to the pricing function, p(x)=0.79x+47px=0.79x+47. The…

A: