Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Sep 10, 2024

how do you solve for profit to get optimal level for both firms and optimal selling price? Suppose that demand equals: P = 1,000 -

how do you solve for profit to get optimal level for both firms and optimal selling price?

Suppose that demand equals: P = 1,000 - Qs - Qt; where Qs and Q are quantities sold, and P is the selling price. The cost functions for the respective firms are: TCs = 70,000 + 5Qs +0.25Qs TC, = 110,000 + 5Q+ 0.15

Step by Step Solution

There are 3 Steps involved in it

Step: 1

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

Step: 3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students also viewed these Finance questions

Question

Suppose you own one share of a stock whose price changes according to a standard Brownian motion process. Suppose that you purchased the stock at a price b + c, c > 0, and the present price is b. You...

Answered: 1 week ago

Question

★★★★★

The following selected transactions were taken from the records of Shipway Company for the first year of its operations ending December 31, 2014: Apr. 13. Wrote off account of Dean Sheppard, $8,450....

Answered: 1 week ago

Question

★★★★★

The spot rates are Time to maturity 1 year 2 years 3 years 4 years Spot rate 3.00% 4.00% 4.70% 5.20% What is the price of a 4-year bond with a six percent annual coupon?

Answered: 1 week ago

Question

★★★★★

Make Versus Buy: Samaneh's SKateboard Company produces high quality skateboards at affordable prices with over 10 different types of skateboards. Most of the manufacturing occurs in Hawaii. The top...

Answered: 1 week ago

Question

★★★★★

Given a rectangular hollow box with outer dimensions 125mm x 85mm and constant thickness of 10mm has an ultimate stress of 415 MPa. Modulus of Elasticity of 110 GPa. a. Determine the bending moment M...

Answered: 1 week ago

Question

★★★★★

"Political, economic, and legal environments of country clearly influence the attractiveness of that country as a market or investment site". Do you agree with this statement? Discuss. And explain...

Answered: 1 week ago

Question

★★★★★

Angie sees a sign on the counter of her local gym which says " No-one is allowed to use the equipment if they have not paid current gym fees ". This is an example of:

Answered: 1 week ago

Question

★★★★★

1. Assume the demand function for good Y is as follows: D = 850 + 21+ 15Px 1315 where QD 2 Quantity demanded of good Y, I = Average income, PK 2 Price of good X and PY 2 Price of good Y. (a)...

Answered: 1 week ago

Question

★★★★★

During the 2023 income year, Nilpa (a resident taxpayer) received the following: Net salary from employer (PAYG of $30,000 was withheld) $90,000 Allowance from employer $10,000 Cash prize from...

Answered: 1 week ago

Previous Question Next Question