Solve these question? The Case:Samsung is a South Korean company and its global success story was started with thelaunch of the Galaxy S series of smartphones by the end of 2000. Now, Samsung isincluded among top 5 companies that are manufacturing electronic apparatuses in all overthe world. Samsung is considered as one of the main suppliers of electronic goods such asflash memory, chips, semiconductors, batteries and hard drive to other manufacturingcompanies such as Sony, Nokia etc. The company is also providing a wide range ofelectronic products to consumers, like smartphones, tablets, audio sounds, smartswitches, refrigerators, air solutions, monitors etc. During COVID-19 pandemic,Samsung supported the global fight with corporate social responsibility (CSR) initiativessuch as the smart factory program and also providing training to human resources.Samsung has also been working on different projects with United Nations DevelopmentProgram (UNDP) for achieving Sustainable Development Goals, for example, Samsunglaunched generation 17 program.Suppose total revenue (TR) and total cost (TC) functions of Samsung are following:TR = 175Q – 2.5Q²TC = 50 + 10QRequirements:a. Calculate profit maximizing output level of Samsung using marginal revenue(MR) and marginal cost (MC) approach.b. Find out the amount of profit earned by Samsung at profit maximizing level ofoutput calculated in part a.c. Calculate average revenue (AR) function and slope of average revenue (AR)function.(Marking scheme: 5+5+5)

Answered: Image /qna-images/answer/0e49e3e7-b609-44a5-a587-1d8b07c16cef.jpg

Suppose total revenue (TR) and total cost (TC) functions of Samsung are following: TR = 175Q – 2.5Q² TC = 50 + 10Q Requirements: a. Calculate profit maximizing output level of Samsung using marginal revenue (MR) and marginal cost (MC) approach. b. Find out the amount of profit earned by Samsung at profit maximizing level of output calculated in part a. c. Calculate average revenue (AR) function and slope of average revenue (AR) function.

Suppose total revenue (TR) and total cost (TC) functions of Samsung are following: TR = 175Q – 2.5Q² TC = 50 + 10Q Requirements: a. Calculate profit maximizing output level of Samsung using marginal revenue (MR) and marginal cost (MC) approach. b. Find out the amount of profit earned by Samsung at profit maximizing level of output calculated in part a. c. Calculate average revenue (AR) function and slope of average revenue (AR) function.

Microeconomic Theory

12th Edition

ISBN:9781337517942

Author:NICHOLSON

Publisher:NICHOLSON

Chapter15: Imperfect Competition

Section: Chapter Questions

Problem 15.9P

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