Consider the market for good x for which there is one firm controlling the market. D(q)=165-10q MC(q)=5q+15 MR(q)=165-20q C(q)=2.5q^2+15q+8 (a) Find the point of equilibrium. (b) How many units must the firm produce and sell to maximize its profits? (c) What will be the price the firm will charge to consumers?
Consider the market for good x for which there is one firm controlling the market. D(q)=165-10q MC(q)=5q+15 MR(q)=165-20q C(q)=2.5q^2+15q+8 (a) Find the point of equilibrium. (b) How many units must the firm produce and sell to maximize its profits? (c) What will be the price the firm will charge to consumers?
Chapter1: Making Economics Decisions
Section: Chapter Questions
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Consider the market for good x for which there is one firm controlling the market.
D(q)=165-10q
MC(q)=5q+15
MR(q)=165-20q
C(q)=2.5q^2+15q+8
(a) Find the point of equilibrium.
(b) How many units must the firm produce and sell to maximize its profits?
(c) What will be the
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g) What will be the firm’s total fixed costs?
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d)What will be the
e) What will be the firm’s maximum profits?
f)What will be the firm’s total variable cost of manufacturing q’?
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