The demand curse facing a firm in long run monopolistic competition is P= 350- Q. the firm's total cost is TC=355Q -2q2 + 0.05Q3 (355Q-2Q) what is the EQUAILİBRUM price? a) 240 b)300 c)340 d) None of the above
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- Glyde Air Fresheners is the dominant firm in the solid room aromatizer industry, which has a total market demand given by Q = 80 - 2P. Glyde has competition from a fringe of four small firms that produce where their individual marginal cost equals the market price. The fringe firms each have a total cost given by: TCi = 10Qi + 2Qi2. If Glyde’s total costs are given by TCG = 100 + 6QG a) what price should Glyde establish for air fresheners? b) what is Glyde’s maximum profit?Natural-ExP is a unique company that is dedicated to making day trips to the Nevado de Toluca. The service includes transportation, food and guide service. Being the number of tickets sold, if the cost function of serving a new customer is Cmg = 20q, the marginal revenue function Img = 600−40q and the demand is q = (600 − p) /20. Under this scenario, what is the price of the excursion. $400 $600 $300 $100Q5. Demand equation of fiction tiles is estimated as P = 8000-24Q. Find I) the marginal revenue when Q=100.
- Perfect CompetitionFirm cost equation: TC = 64 - 4Q + Q2Market demand: Q = 648 - 4PSolve for how many firms serve the market. Enter as a value.A publisher faces the following demand schedule for the next novel from one of its popular authors: Price Quantity Demanded (Dollars) (Copies) 100 0 90 100,000 80 200,000 70 300,000 60 400,000 50 500,000 40 600,000 30 700,000 20 800,000 10 900,000 0 1,000,000 The author is paid $2 million to write the novel, and the marginal cost of publishing the novel is a constant $10 per copy. Complete the second, fourth, and fifth columns of the following table by computing total revenue, total cost, and profit at each quantity. Quantity Total Revenue Marginal Revenue Total Cost Profit (Copies) (Dollars) (Dollars) (Dollars) (Dollars) 0 100,000 200,000 300,000 400,000 500,000 600,000 700,000 800,000 900,000 1,000,000…Consider an imperfectly competitive service provider, Muscat Automotive Repair Services (MARS), whose total cost of production is C = 30Q+0.165Q2. Also, MARS faces two different market segments, A and B, whose demands can be linearly expressed as QA = 240 - PA and QB = 120 - 0. 5PB. (Hint: the marginal cost is the slope of the total cost function).1. Under a single-price strategy (no market segmentation), find MARS’s profit-maximizing price and quantity.