(b) A firm's total cost and demand functions are given by: TC = 70 + 16Q; P = 80 – 20 respectively: (i) Find the level o

Business, Finance, Economics, Accounting, Operations Management, Computer Science, Electrical Engineering, Mechanical Engineering, Civil Engineering, Chemical Engineering, Algebra, Precalculus, Statistics and Probabilty, Advanced Math, Physics, Chemistry, Biology, Nursing, Psychology, Certifications, Tests, Prep, and more.
Post Reply
answerhappygod
Site Admin
Posts: 899603
Joined: Mon Aug 02, 2021 8:13 am

(b) A firm's total cost and demand functions are given by: TC = 70 + 16Q; P = 80 – 20 respectively: (i) Find the level o

Post by answerhappygod »

B A Firm S Total Cost And Demand Functions Are Given By Tc 70 16q P 80 20 Respectively I Find The Level O 1
B A Firm S Total Cost And Demand Functions Are Given By Tc 70 16q P 80 20 Respectively I Find The Level O 1 (36.15 KiB) Viewed 25 times
(b) A firm's total cost and demand functions are given by: TC = 70 + 16Q; P = 80 – 20 respectively: (i) Find the level of output needed to maximise the firm's profit. (ii) The government imposes a tax of €T per good. If the firm adds this tax to its cost and continues to maximise profit, show that the price of the good increases by two-fifths of the tax, irrespective of the value of T.
Join a community of subject matter experts. Register for FREE to view solutions, replies, and use search function. Request answer by replying!
Top
Post Reply

Return to “Archived Questions & Answers”