If the market quantity demanded and quantity supplied functions are:QD= 187 - 4PQs49 + 9Pand the firm's marginal cost function is:MC = 2 + 3qAssuming there are no fixed costs, what will be the profits of this firm?ROUND TO THE NEAREST CENT

Given:Qd = 187 - 4PQs = 49 + 9PMC = 2 + 3q

If the market quantity demanded and quantity supplied functions are: QD = 187 - 4P Qs = 49 + 9P and the firm's marginal cost function is: МС %3D 2 + Зq Assuming there are no fixed costs, what will be the profits of this firm? ROUND TO THE NEAREST CENT

If the market quantity demanded and quantity supplied functions are: QD = 187 - 4P Qs = 49 + 9P and the firm's marginal cost function is: МС %3D 2 + Зq Assuming there are no fixed costs, what will be the profits of this firm? ROUND TO THE NEAREST CENT

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

If the market quantity demanded and quantity supplied functions are:
QD
= 187 - 4P
Qs
49 + 9P
and the firm's marginal cost function is:
MC = 2 + 3q
Assuming there are no fixed costs, what will be the profits of this firm?
ROUND TO THE NEAREST CENT

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