You are the CEO of Widget World Corporation. Researchers have developed a new electronic widget. The fixed costs to make the widget will be $32,000, and the variable c will be $145 per widget. The demand function is q=-38p+9768. Answer the following questions: 1) Write the expense function (in terms of q) 2) Write the expense function (in terms of p-hint: you will need your demand function) Wrttethe rev Due funtion lin lorms ofn

You are the CEO of Widget World Corporation. Researchers have developed a new electronic widget. The fixed costs to make the widget will be $32,000, and the variable c will be $145 per widget. The demand function is q=-38p+9768. Answer the following questions: 1) Write the expense function (in terms of q) 2) Write the expense function (in terms of p-hint: you will need your demand function) Wrttethe rev Due funtion lin lorms ofn

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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