Row of Last ( (1 Profit Consider a demand curve wherein Price = -0.01 Q + 55. That makes TR = -0.01 Q42 + 55 Q and MR = 0.02 0 +55. Note that these formulas are entered in such a manner to "pick up" a variable demand intercept term in cell P2. 96 1 54.98 71.7963 54.99 71.8981 71,8981 5499 -16.9081 770 39.6 92.79 47.3 52.75 40617.5 36421 -4196.5 780 39.4 95.4 47.2 53.28 415584 36816 -4742.4 790 39.2 98.07 47.1 53.83 425257 37209 -5316.7 Assume that demand increases via an increase in the intercept of the demand curve in P2. For the following value of that intercept, record the "best" tabled value Q, that is, that tabled value of quch that MR is as closest to MC in tabled form. 800 39 100.8 47 54.4 43520 37600 -5920 1 44) Tabled Q profit max value when demand intercept = 55 810 38.8 103.59 46.9 54.99 44541.9 37989 -6552.9 1 45) Tabled Q profit max value when demand intercept = 60 820 38.6 106.44 46.8 55.6 45592 38376 -7216 1 46) Tabled O. profit max value when demand intercept = 65 830 38.4 109.35 46.7 56.23 46670.9 38761 -7909.9 1 47) Tabled Q profit max value when demand intercept = 70 840 38.2 112.32 46.6 56.88 477792 39144 78635.2 1 48) Tabled Q profit max value when demand intercept : 75 850 38 115.35 46.5 57.55 489175 39525 -9392.5 860 37.8 118.44 46.4 58.24 50086.4 39904 10182.4 What is the corresponding price? 870 37.6 121.59 46.3 58.95 512865 40281 -11005.5 1 49) Tabled Price at profit max Qvalue when demand intercept = 55 880 37.4 124.8 46.2 59.68 52518.4 40656 -11862.4 1 50) Tabled Price at profit max Qvalue when demand intercept = 60 890 37.2 128.07 46.1 60.43 53782.7 41029 ~12753.7 1 51) Tabled Price at profit max Qvalue when demand intercept = 65 900 37 131.4 46 61.2 55080 41400 -13680 1 52) Tabled Price at profit max Qvalue when demand intercept = 70 910 36.8 134.79 45.9 61.99 56410.9 41769 -14641.9 1 53) Tabled Price at profit max Qvalue when demand intercept = 75 920 36.6 138.24 45.8 62.8 57776 42136 -15640 930 36.4 141.75 45.7 63.63 59175.9 4250] -16674.9 I 54) We might call such a listing of prices and corresponding quantities, in this instance: 940 36.2 145.32 45.6 64.48 606112 42864 -17747.2 3. A demand function 950 36 148.95 45.5 65.35 620825 43225 -18857.5 b. A production function 960 35.8 152.64 45.4 66.24 63590.4 43584 -20006.4 c. An inverse function 970 35.6 156.39 45.3 67.15 651355 43941 -21194.5 d. A supply function 980 35.4 160.2 45.2 68.08 66718.4 44296 -22422.4 990 35.2 164.07 45.1 69.03 683397 44649 -23690.7 1000 35 168 45 70 70000 45000 >25000 Row of Last C Q MC Price AC TC TR Profit Consider a demand curve wherein Price = 001 (2+ 55. That makes TR = 70.01 Q"Z + 55 Q and MR = 7002 Q +55. Note that these formulas are entered in such a manner to "pick up" a variable demand intercept term in cell P2. 96 1 54.98 71.7963 54.99 71.8981 71.8981 54.99 46.9081 Also consider a marginal cost function of MC = 0.0003 Q42 7 0.204 Q + 72. This makes the TC function TC=0.0001 Q"3 -0.102 Q42 + 72 Q. These formulas have been inputted in the 2nd row to the right. 10 54.8 69.99 54.9 70.99 709.9 549 460.9 20 54.6 68.04 54.8 70 1400 1096 304 What are the para meter coefficients of total cost (TC). We will assume that the arbitray constant is zero. 30 54.4 66.15 54.7 69.03 2070.9 1641 429.9 0! 1i 043 40 54.2 64.32 54.6 68.08 2723.2 2184 -539.2 1 2) Q'2 50 54 62.55 54.5 67.15 3357.5 2725 -632.5 72- 3) 0'1 60 53.8 60.84 54.4 66.24 3974.4 3264 710.4 70 53.6 59.19 54.3 65.35 4574.5 3801 -773.5 80 53.4 57.6 54.2 64.48 5158.4 4336 -822.4