Question
Hello, Thank you for your help. Please, do not take the answer from other sites. Thank you. Consider a monopolistic competitor with TC=100- 4QQ^. Suppose
Hello,
Thank you for your help. Please, do not take the answer from other sites. Thank you.
Consider a monopolistic competitor with TC=100- 4QQ^. Suppose that the demand for their version of the product is P=50-3Q.
- What quantity maximizes their profits?
- What price do they charge?
- What profits do they earn in the short run?
- What will happen to their profits in the long run?
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Microeconomics
Authors: Dean Karlan, Jonathan Morduch
1st edition
978-0077332587, 007733258X, 978-0077332648, 77332644, 978-1259163531
