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(b) A firm's total cost and demand functions are given by: TC = 70 + 16Q; P = 80 – 20 respectively: (i) Find the level o
Posted: Mon Apr 18, 2022 9:13 am
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 (36.15 KiB) Viewed 27 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.