Please provide quick answer Consider a competitive firm selling software; its total cost function is given by (quantitiesare given in hundreds):TC(q) = 10.000 + 100q +4A Give the equations for the total average cost and for the marginal cost.B. After recalling the conditions for the profit maximisation in the long-run, determinethe quantity, the price and the profit of the equilibrium in the long run.C. After being granted a patent, the firm becomes the only firm authorised to sell thissoftware. In this case, what is the change in the price and quantity of equilibrium?Assume that the demand function is given by:Q,=3000-5P. Determine the price%3Dand the quantity that maximise the profit of the monopoly and the profit it is making.D. Is the monopoly desirable from the point of view of the society? What is the size of thedeadweight-loss? a

Total variable cost is the aggregate amount of all variable costs associated with the cost of goods…

Consider a competitive firm selling software; its total cost function is given by (quantities are given in hundreds): TC(q) = 10.000 + 100q +4 A Give the equations for the total average cost and for the marginal cost. B. After recalling the conditions for the profit maximisation in the long-run, determine the quantity, the price and the profit of the equilibrium in the long-run.

Consider a competitive firm selling software; its total cost function is given by (quantities are given in hundreds): TC(q) = 10.000 + 100q +4 A Give the equations for the total average cost and for the marginal cost. B. After recalling the conditions for the profit maximisation in the long-run, determine the quantity, the price and the profit of the equilibrium in the long-run.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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