A what price should the company charge if it wants to, Microeconomics

A what price should the company charge if it wants to

The demand and cost function for a company are estimated as:

P=100-8Q

TC=50+80Q-10Q2+0.63Q3

a. What price should the company charge if it wants to maximise profit in the short run?

b. what price should it charge if it wants to maximise revenue in the short run?

c. Suppose the company lacks confidence in the accuracy of cost estimatesexpressed in a cubic equation and simply wants to use linear approximation. Suggest linear representation of this cubic equation. What difference would it make on the recommended profit-maximising and revenue-maximising price?

View Complete Question

Request for Solution File

Ask an Expert for Answer!!

Microeconomics: A what price should the company charge if it wants to

Reference No:- TGS0978613

Expected delivery within 24 Hours

Have a Question? (oR Write a Review)

Write atleast 100 words!!

Asked Questions

Which condition involves a persistent and irrational fear

Which condition involves a persistent, irrational fear attached to an object or situation that objectively does not pose a significant danger?

Client overwhelmed and crying a lot because of work pressure

Problem: A 25-year-old client tells the nurse, "I've been feeling overwhelmed and crying a lot because of work pressures.

Appropriate intervention of client experiencing panic attack

Question: Which would be an appropriate intervention of a client experiencing a panic attack?

Discussion about sadness, stress, relational disconnection

Objective: During the session. She communicated her feelings of sadness, stress, and relational disconnection, allying with her diagnosis of major depressive

Describe heteronormative and gendered assumptions

I like how you pointed out how both heteronormative and gendered assumptions shrink lesbian and gay sexuality into one-dimensional images.

Dimensions of obsessive-compulsive behavior

The OCI-R consists of 18 items that evaluate different dimensions of obsessive-compulsive behavior, including obsessional thoughts

Identity status in james marcias theory

Gabrielle has spent time lately going with friends and family members to different mosques and political events, but she isn't sure about

Request for Solution File

Ask an Expert for Answer!!

Microeconomics: A what price should the company charge if it wants to

Reference No:- TGS0978613

Have a Question? (oR Write a Review)

Recent Questions Asked Microeconomics

Q : Organizational statement and overview we are only as good

Q : Suppose that you are currently a college senior you are

Q : Create a communication plan for your performance

Q : Would it be possible to privatize the money supply in the

Q : A what price should the company charge if it wants to

Q : Without proper precautions early childhood settings can be

Q : In a three-page paper detail the current pressures on the

Q : Cash flow is the life-blood of a company without it a

Q : Determine the maximum bit rate for an fsk signal with a