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alexdok [17]
3 years ago
13

A firm sells its product in a perfectly competitive market where other firms charge a price of $80 per unit. The firm’s total co

sts are C(Q) = 60 + 12Q + 2Q2.
a. How much output should the firm produce in the short run?
____ units
b. What price should the firm charge in the short run?
$ ____
c. What are the firm’s short-run profits?
$____
Business
1 answer:
bagirrra123 [75]3 years ago
6 0

Answer:

A) Q=17

B) $80

C) 518

Explanation:

C(Q) = 60 + 12Q + 2Q2

and its MC = 12+ 4Q

a.How much output should the firm produce in the short run?

Put P = MC and solve for Q

P=MC

80=12+4Q

4Q=68

Divide both sides of the equation by 4

Q=17

b.What price should the firm charge in the short-run? $80

c.What are the firm’s short-run profits?

Hint:

Profit=Total Revenue-Total CostTotal Revenue=$80x17=1360

TotalCost=60+12x17+2(17)2=60+204+578=842

Profit=1360-842=518

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Answer:

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Explanation:

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Recognising that one market segment's needs are different from another one's is the basis for focus strategy. Resources will be used to meet and satisfy the unique needs of a target segment or niche. Involve a particular product line for example children clothing, detergents, lemon juice, children's shoes and so on.

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ICE Princess25 [194]

Answer:

Option A                              

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4 0
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djyliett [7]

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Explanation:

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When a company brands it's goods, they are trying to create Brand Awareness and this usually happens when a company plans to stay in a business for a while and indeed with the way the Firm is spending a lot of money on Advertising, one can surmise that they do indeed plan to stay in the business because they have spent a lot.

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7 0
3 years ago
Suppose the cost of capital of the Gadget Company is 10 percent. If Gadget has a capital structure that is 50 percent debt and 5
myrzilka [38]

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Murrr4er [49]

Answer:

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8 0
3 years ago
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