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Economics

Q. 1. The Zinger Company manufactures also sells a line of sewing machines. Monthly demand for one its most popular models is given by the subsequent relationship:

Q = 400 - 0.5P

where P is price also Q is quantity demanded. Total costs of production (including a "normal" return on owners' investment) per month are:

C = 20,000 + 50Q + 3Q2

a. ) in terms of Q.?Express total profits (

b. At illustrate what level of o/p are total profits maximized? Illustrate what price will be charged? Illustrate what are total profits at this o/p level?

c. Illustrate what marketplace structure did you assume? Why?

d. Would your answers in b change if the marketplace for sewing machines were competitive? How? (Specify price, quantity also profit levels.)

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M9219511

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