Question
A monopolistically competitive firm is considering selling several units of the same product as a single package.A typical consumer's demand for the product is Q
A monopolistically competitive firm is considering selling several units of the same product as a single package.A typical consumer's demand for the product isQ = 10 - 0.5Pand the total cost function isC(Q) = 8Q.
What is the optimal number of units to put into a package?
answer: 6
What is the optimal price to charge for the package?
What are the profits for this pricing scheme?
** I have the first answer I just dont know how to get the other two answers**
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Applied Regression Analysis And Other Multivariable Methods
Authors: David G. Kleinbaum, Lawrence L. Kupper, Azhar Nizam, Eli S. Rosenberg
5th Edition
1285051084, 978-1285963754, 128596375X, 978-1285051086
