There are currently 60 perfectlycompetitive firms producing output q.Their cost function is C = 10 + 3q^2 hedemand in this market is QD = 1200 - 40p.Each firm's variable profit is? Showgraphically too! a) 48 b) 2880 c) 24 d) 240e) 32

The correct answer is Variable Profit equals a) $48. The Total cost function of each firm in the…

Answered: There are currently 60 perfectly…

Principles Of Marketing

17th Edition

ISBN:9780134492513

Author:Kotler, Philip, Armstrong, Gary (gary M.)

Publisher:Kotler, Philip, Armstrong, Gary (gary M.)

Chapter1: Marketing: Creating Customer Value And Engagement

Section: Chapter Questions

Problem 1.1DQ

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Please solve very soon completely with all parts

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There are currently 60 perfectly competitive firms producing output q. Their cost function is C = 10 + 3q^2 he demand in this market is QD = 1200 - 40p. Each firm's variable profit is? Show graphically too! a) 48 b) 2880 c) 24 d) 240 e) 32