a. The ABC company is producing an item at unit cost of GHS 4. If the supply function isq=160+8 p, where q represents the quantity produced and p represents the market price,theni.11.Find the total cost function in terms of p.What is the market price at which the company realizes a total profit of GHS 500?

Costs refers to the expenses that incur in the process of production of goods or services. There are…

a. The ABC company is producing an item at unit cost of GHS.4. If the supply function is q=160+8 p, where q represents the quantity produced and p represents the market price, Find the total cost function in terms of p. then i.

a. The ABC company is producing an item at unit cost of GHS.4. If the supply function is q=160+8 p, where q represents the quantity produced and p represents the market price, Find the total cost function in terms of p. then i.

Microeconomic Theory

12th Edition

ISBN:9781337517942

Author:NICHOLSON

Publisher:NICHOLSON

Chapter2: Mathematics For Microeconomics

Section: Chapter Questions

Problem 2.2P

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a. The ABC company is producing an item at unit cost of GHS 4. If the supply function is
q=160+8 p, where q represents the quantity produced and p represents the market price,
then
i.
11.
Find the total cost function in terms of p.
What is the market price at which the company realizes a total profit of GHS 500?

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