From the scenario assuming katrinas candies is operating in

Question

"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

"Market Structures" 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 in order for the company to maximize profit in the short run. Determine the quantity that would be produced at this price and the maximum profit possible.

Answer 1

In this assignment, you have to review the case scenario of Maximizing Revenue, supposing Katrina's Candies is operating in the monopolistically competitive market structure and face the given 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 Here, the price is in $ and Q is in kilograms. All answers must be rounded to the nearest whole number. Please find out what price Katrina's Candies must charge if the company wants to maximize revenue in the short run. Find out the quantity that would be generated at this price and the maximum revenue possible.