1) An imperfectly competitive firm has the following demand and cost functions:
P=230-20Q
C=50+30Q
a. What is optimum output?
b. What is equilibrium price of this output per unit?
c. What is optimal revenue?
d. What is total profit?
2) A firm in a perfectly-competitive industry where market price of output prevailing is $50 per unit has a cost function where:
C=40+5Q2
a. What is marginal cost in dollars?
b. What is marginal revenue in dollars?
c. What is optimal output in units?
d. What is maximal profit?
3) A monopolist facing a demand curve and cost function like the following:
P=72-6Q
C=15+6Q2
a. has what equation for marginal revenue?
b. What is the equation for marginal cost?
c. What is optimal output?
d. What is price per unit?
What is profit?