Solved: Demand and price for two different demand function, Microeconomics

Demand and price for two different demand function

I want to know how to calculate demand and price for two different demand functions that have the same cost function.

P1 = 20 - .0125Q1
P2 = 40 - .025Q2

ATC = MC = 3.00.

How do I calculate the price and quantity for each? How does ATC/MC factor into the price/quantity estimate?

What is the economic profit for each?

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Solution Preview :

Prepared by a verified Expert

Microeconomics: Demand and price for two different demand function

Reference No:- TGS01750687

Have a Question? (oR Write a Review)

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Solution Preview :

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Microeconomics: Demand and price for two different demand function

Reference No:- TGS01750687

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