Rex has determined that demand for his product is given by Q=180-5p and cost equation given by

Question:

Rex has determined that demand for his product is given by Q=180-5p and cost equation given by C=75+.3Q.
A. Determine the optimal price and quantity for the firm.
B. Suppose that cost changes to C=25+0.4Q. Determine the new price and quantity. Explain.

Fantastic news! We've Found the answer you've been seeking!