A company is the sole producer of holographic TVs. The daily demand for these TVs is Q=10,200 - 100P, where Q is the quantity demanded and P is the price. The cost of producing the TVs is (note that this implies that marginal cost is equal to Q, MC = Q). What is the company’s total revenue schedule?What is the company’s marginal revenue schedule? What is the profit maximising number of TVs that the company must produce each day? What price should it charge per TV? What is the daily profit? 6. A company is the sole producer of holographic TVs. The daily demand for these TVs isQ=10,200 - 100P, where Q is the quantity demanded and P is the price. The cost of producingQ?the TVs is(note that this implies that marginal cost is equal to Q, MC = Q).2(a) What is the company's total revenue schedule?(b) What is the company's marginal revenue schedule?(c) What is the profit maximising number of TVs that the company must produce eachday? What price should it charge per TV? What is the daily profit?

Answered: A company is the sole producer of…

Microeconomics: Private and Public Choice (MindTap Course List)

16th Edition

ISBN:9781305506893

Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson

Publisher:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson

Chapter11: Price-searcher Markets With High Entry Barriers

Section: Chapter Questions

Problem 14CQ

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A company is the sole producer of holographic TVs. The daily demand for these TVs is Q=10,200 - 100P, where Q is the quantity demanded and P is the price. The cost of producing the TVs is (note that this implies that marginal cost is equal to Q, MC = Q).

What is the company’s total revenue schedule?
What is the company’s marginal revenue schedule?

What is the profit maximising number of TVs that the company must produce each day? What price should it charge per TV? What is the daily profit?

6. A company is the sole producer of holographic TVs. The daily demand for these TVs is
Q=10,200 - 100P, where Q is the quantity demanded and P is the price. The cost of producing
Q?
the TVs is
(note that this implies that marginal cost is equal to Q, MC = Q).
2
(a) What is the company's total revenue schedule?
(b) What is the company's marginal revenue schedule?
(c) What is the profit maximising number of TVs that the company must produce each
day? What price should it charge per TV? What is the daily profit?

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