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Question # 00014822
Subject: Economics
Due on: 05/17/2014
Posted On: 05/08/2014 09:03 AM

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Discussion 1

•* From the scenario, assuming Katrina’s Candies is operating in the monopolistically competitive market structure and faces the following weekly demand and short-run cost functions:

VC = 20Q+0.006665 Q2 with MC=20 + 0.01333Q and FC = \$5,000

P = 50-0.01Q and MR = 50-0.02Q

*Where price is in \$ and Q is in kilograms. All answers should be rounded to the nearest whole number.

?Algebraically, determine what price Katrina’s Candies should charge in order for the company to maximize profit in the short run. Determine the quantity that would be produced at this price and the maximum profit possible.

Discussion 2

"Maximizing Revenue" Please respond to the following:

•* From the scenario, assuming Katrina’s Candies is operating in the monopolistically competitive market structure and faces the following weekly demand and short-run cost functions:

VC = 20Q+0.006665 Q2 with MC=20 + 0.01333Q and FC = \$5,000

P = 50-0.01Q and MR = 50-0.02Q

*Where price is in \$ and Q is in kilograms. All answers should be rounded to the nearest whole number.

?Algebraically, determine what price Katrina’s Candies should charge if the company wants to maximize revenue in the short run. Determine the quantity that would be produced at this price and the maximum revenue p
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Eco550 week 6 discussions

Tutorial # 00015004
Posted On: 05/17/2014 08:53 AM
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Preview: P xxxx 01Q xxx MR 50-0 xxx Where price xx in xxx x is xx kilograms All xxxxxxx should be xxxxxxx to xxx xxxxxxx whole xxxxxx Algebraically, determine xxxx price Katrinas xxxxxxx should xxxxxx xx the xxxxxxx wants to xxxxxxxx revenue in xxx short xxx xxxxxxxxx the xxxxxxxx that would xx produced at xxxx price xxx xxx maximum xxxxxxx p Given xx 20Q0 006665 xx MC20 x xxxxxx FC xxxxx P 50-0 xxx MR 50-0 xxx VC20Q0 xxxxxx xx 20 xxxxxxxxxxx 01333 MC200 xxxxxxx 01333Q P xx.....
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