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eco 550, discussion question

Question # 00015160
Subject: Economics
Due on: 05/14/2014
Posted On: 05/12/2014 03:02 PM

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"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.

    • .0in;'="" list="" lfo3;="" level2="" 0pt;="" l0="">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 possible

Tags question discuion following shortrun demand cost weekly functions 50002q 50001q faces competitive aumingkatrinas scenario respond candies operating maximizingrevenue monopolistically marketstructure

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eco 550 week 6 discussion 2

Tutorial # 00014803
Posted On: 05/14/2014 07:06 PM
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Eco550_week_6_dsicussions2.docx (15.2 KB)
Preview: short xxx Determine xxx quantity that xxxxx be produced xx this xxxxx xxx the xxxxxxx revenue possible"Market xxxxxxxxxxxxxxx the scenario, xxxxxxxx Katrina's xxxxxxx xx operating xx the monopolisticall xxxxxxxxxxx market structure xxx faces xxx xxxxxxxxx weekly xxxxxx and short-run xxxx functions:           VC=20Q+0 006665Q2 with xxxxxxx 01333Q xxx xxxxxxxxxxxxxxxxxxxxxxxxxxxxx P=50-0 xxx and MR=50-0 xxxxxxxxxxxxxxxxxxxxxxx *Where price xx in x xxx Q xx in kilograms xxx answers should xxxxxxx to.....
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