Question
I have this due at 11:59 p.m. tonight, this is a mutiple part question and I have three worksheets. I tried to set it up
I have this due at 11:59 p.m. tonight, this is a mutiple part question and I have three worksheets. I tried to set it up as easily as posssibl. I used an excel file oringinally. Can this get done today?
Given a firm's demand function, Qd = 425 - 0.85P, and total cost function, TC = 1000 + 50Q - 0.53Q2 + 0.012Q3, answer each question (a. through g.) in the text box provided.
a.Convert the normal demand equation above to its inverse form.
NOTE:Round all figures to two significant decimal values or less.
b.Write the expression for marginal revenue (MR).
c.Write the expression for marginal cost (MC).
NOTE:Round to the nearest whole value.
d.Using the expression for marginal revenue, enter a formula to calculate the exact quantity that maximizes total revenue.
NOTE:Round all figures to two significant decimal values or less
e.Using the expressions for marginal revenue and marginal cost, write an expression for the profit-maximizing quantity in the text box below.
NOTE:You should end up with an expression, in terms of Q, set equal to zero.Carry all figures to two significant decimal values or less.
f.Using the Quadratic Formula, find the quantity that maximizes profit.
f1.Components of the Quadratic Formula:
a:
b:
c:
f2.Calculate the two quantities (Round to nearest whole value):
01:
Q2:
g.Confirm correct quantityby writing an equation that would satisfy the second-order condition for a maximum point.
NOTE:Enter an equation derived from your expression in e., using the appropriate quantity calculated in f2. as an input value.
a.Convert the normal demand equation above to its inverse form.
NOTE:Round all figures to two significant decimal values or less.
b.Write the expression for marginal revenue (MR).
c.Write the expression for marginal cost (MC).
NOTE:Round all figures to two significant decimal values or less.
d.Using the expression for marginal revenue, enter a formula to calculate the exact quantity that maximizes total revenue.
NOTE:Round to the nearest whole value.
e.Using the expressions for marginal revenue and marginal cost, write an expression for the profit-maximizing quantity in the text box below.
NOTE:You should end up with an expression, in terms of Q, set equal to zero.Carry all figures to two significant decimal values or less.
f.Using the Quadratic Formula, find the quantity that maximizes profit.
f1.Components of the Quadratic Formula:
a:
b:
c:
f2.Calculate the two quantities (Round to nearest whole value):
Q1:
Q2:
g.Confirm correct quantityby writing an equation that would satisfy the second-order condition for a maximum point.
NOTE:Enter an equation derived from your expression in e., using the appropriate quantity calculated in f2. as an input value.
a.Convert the normal demand equation above to its inverse form.
NOTE:Round all figures to two significant decimal values or less.
b.Write the expression for marginal revenue (MR).
c.Write the expression for marginal cost (MC).
NOTE:Round all figures to two significant decimal values or less.
d.Using the expression for marginal revenue, enter a formula to calculate the exact quantity that maximizes total revenue.
NOTE:Round to the nearest whole value.
e.Using the expressions for marginal revenue and marginal cost, write an expression for the profit-maximizing quantity in the text box below.
NOTE:You should end up with an expression, in terms of Q, set equal to zero.Carry all figures to two significant decimal values or less.
f.Using the Quadratic Formula, find the quantity that maximizes profit.
f1.Components of the Quadratic Formula:
a:
b:
c:
f2.Calculate the two quantities (Round to nearest whole value):
Q1:
Q2:
g.Confirm correct quantityby writing an equation that would satisfy the second-order condition for a maximum point.
NOTE:Enter an equation derived from your expression in e., using the appropriate quantity calculated in f2. as an input value.
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