The manufacturer of smart printers is trying to decide what price to set for its product. The demand and cost function are assumed to be as follows: P = 80 -2Q TC= 160 +50Q-1.5Q ² What price should the company charge if it wants to maximize its profit in the short run? What is the optimal quantity for the printer following this optimal price? 15:11Document (1)0VPN0.04KB/S2745The manufacturer of smart printers istrying to decide what price to set for itsproduct. Thedemand and cost function are assumedto be as follows:P = 80-2QTC= 160 +50Q-1.5Q 2What price should the company chargeif it wants to maximize its profit in theshort run?BI U ο AWhat isthe optimal quantity for the printerfollowing this optimal price?1:3- - -:

The firm maximizes its profit when the marginal revenue is equal to the marginal cost (MR=MC).

Answered: The manufacturer of smart printers is…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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The manufacturer of smart printers is trying to decide what price to set for its product. The
demand and cost function are assumed to be as follows:
P = 80 -2Q
TC= 160 +50Q-1.5Q ²
What price should the company charge if it wants to maximize its profit in the short run? What is
the optimal quantity for the printer following this optimal price?

15:11
Document (1)
0
VPN
0.04
KB/S
274
5
The manufacturer of smart printers is
trying to decide what price to set for its
product. The
demand and cost function are assumed
to be as follows:
P = 80-2Q
TC= 160 +50Q-1.5Q 2
What price should the company charge
if it wants to maximize its profit in the
short run?
BI U ο A
What is
the optimal quantity for the printer
following this optimal price?
1:3
- - -
:

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