ECO 550 week 6
ashmak
eco_550_week_6_posts.docxECO 550 week 6 Post 1
"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.
ECO 550 week 6 Post 2
"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
ECO 550 week 6 Post 1
"Market Structures" Please respond to the following:
* From the scenario, assuming Katrina’s Candies is operating in the monopolistically
competitive market str
ucture 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.
A
l
gebraically, determine what price Katrina’s Candies should charge in order for the company to
maximize profit in the short run. Determine the quantit
y that would be produced at this price and
the maximum profit possible.
ECO 550 week 6 Post 2
"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. Det
ermine the quantity that would be produced at this price
and the maximum revenue possible
