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You are given the following information about the market for Patagonia Jackets The formula for Demand is as follows: Qd: 100,000-500*P. It's Cost Function is
You are given the following information about the market for Patagonia Jackets The formula for Demand is as follows: Qd: 100,000-500*P. It's Cost Function is 500,000 + 25Q Questions: (1) What is the price (P) where REVENUE is maximized? (2) What is the price (P) that maximizes PROFITS? (3) What is the QUANTITY (Q) that maximizes profits at that price? (4) What are TOTAL PROFITS at that price
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Intermediate Microeconomics
Authors: Hal R. Varian
8th edition
393934241, 978-0393934243
