eco 550, discussion question

Question # 00015160 Posted By: mompleasehelpme Updated on: 05/12/2014 03:02 PM Due on: 05/14/2014
Subject Economics Topic Managerial Economics Tutorials:
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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.

    • 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

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Tutorials for this Question
  1. Tutorial # 00014803 Posted By: neil2103 Posted on: 05/14/2014 07:06 PM
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    The solution of eco 550 week 6 discussion 2...
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