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eco 550, discusison question

Question # 00015159
Subject: Economics
Due on: 05/14/2014
Posted On: 05/12/2014 03:00 PM

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"Market Structures" 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.

    • .0in;'="" list="" lfo3;="" level2="" l1="" 0pt;="">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.

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eco 550 week 6 discussion 1

Tutorial # 00014802
Posted On: 05/14/2014 07:04 PM
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Market_Structures.docx (14.02 KB)
Preview: number xxxxxxxxxxxxxx determine xxxx price Katrina’s xxxxxxx should charge xx order xxx xxx company xx maximize profit xx the short xxx Determine xxx xxxxxxxx that xxxxx be produced xx this price xxx the xxxxxxx xxxxxx possible xx = 20Q x 0 006665Q2 x 20 xxxxxxxxxx x 20 x 0 01333Q x 20 01333QFC x $5,000P x xx – x 01Q = xx 99QMR = xx – x xxx = xx 98QMC = xx +0 01333MR x 50 xxx x 02MC x MR0 0133Q x 0 02Q x 0 xxxxxx xxx – xxx = 30QQ x 30 KilogramP x 50 x x 01(30) x.....
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