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2. There are 50 consumers of the product X. The demand function of each person is similar and has the form P = 280
2. There are 50 consumers of the product X. The demand function of each person is similar and has the form P = 280 - 50 * Q / 4. This product is manufactured by 1 manufacturer with the following cost function: TVC = (1/6) Q + 30Q and TFC = 15,000. Determine: 1. The demand function of the market. 2. Price and Quantity to maximize profit. 3. The profit. 4. The price and Quantity If the company wants to maximize the output without losses. 5. The price and Quantity to achieve normalized profit over 30% average cost.
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1 Individual demand P 28050Q4 Q 224008P There ...
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Income Tax Fundamentals 2013
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
31st Edition
1111972516, 978-1285586618, 1285586611, 978-1285613109, 978-1111972516
