Question
Voodoo has a demand curve of: P=1000-Q/50 And a cost structure as: C=50Q+5000 What is the markup over MC? What is Voodoo's profit?
Voodoo has a demand curve of: P=1000-Q/50
And a cost structure as: C=50Q+5000 What is the markup over MC? What is Voodoo's profit?
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Step: 1
To determine the markup over marginal cost MC we first need to find the marginal cost MC function Th...Get Instant Access to Expert-Tailored Solutions
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Step: 2
Step: 3
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Microeconomics Theory and Applications with Calculus
Authors: Jeffrey M. Perloff
3rd edition
133019934, 978-0133019933
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