Solved: Find the mr function corresponding to the demand schedule, Microeconomics

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Find the mr function corresponding to the demand schedule

Problem

1. A firm faces the demand schedule q = 40 - p^0.5(where p^0.5≥ 0, q ≤ 40) and the cost schedule TC = q³ - 2.5q² + 50q + 16. What price should it charge to maximize profit?

2. Find the MR function corresponding to the demand schedule q = (60 - 2.5p)^0.5.

3. 1. What is the point elasticity of demand when price is 20 for the demand schedule p = 45 - 1.5q?

The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.

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