Question
Please give me clear explanation and do not copy from other site. Thank you. A market analysis conducted by SUNY Canton suggests the following market
Please give me clear explanation and do not copy from other site. Thank you.
A market analysis conducted by SUNY Canton suggests the following market demand and marginal revenue relations:
Public Demand: PPU = 225 - 0.005QPU and MRPU = 225 - 0.01QPU
Student Demand: PST = 150 - 0.01QST and MRST = 150 - 0.02QST
Total fixed cost, marginal cost and total variable functions are, respectively:
TFC=$1,500,000 and MCPU = MCST=$25
TVC=(MCPU * QPU) + (MCST*QST)
1. Calculate the profit-maximizing equilibrium price and quantity in each market segment.
Answer:
2. Calculate the total revenue, total cost, and total profit.
Answer:
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