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1. You are given the following data for your firm, which sells a patented super-absorbent cleaning towel for use in large retail complexes (called One
1. You are given the following data for your firm, which sells a patented super-absorbent cleaning towel for use in large retail complexes (called "One Wring to Rule the Mall" ).
Q | P | TC |
0 | $48.00 | $400.00 |
10 | $46.50 | $707.50 |
20 | $45.00 | $980.00 |
30 | $43.50 | $1,232.50 |
40 | $42.00 | $1,480.00 |
50 | $40.50 | $1,737.50 |
60 | $39.00 | $2,020.00 |
70 | $37.50 | $2,342.50 |
80 | $36.00 | $2,720.00 |
90 | $34.50 | $3,167.50 |
100 | $33.00 | $3,700.00 |
a. Determine equations for P=f(Q), MR=f(Q), ATC=f(Q, Q2), AVC=f(Q, Q2), MC=f(Q, Q2). Recall that your marginal equations should be derivatives of your totals!
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