You are the manager of a monopolistically competitive firm, and your demand and cost functions are given by Q = 36 – 4P and C(Q)

Question

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You are the manager of a monopolistically competitive firm, and your demand and cost functions are given by Q = 36 – 4P and C(Q)

= 4 + 4Q + Q2.
(a) Find the inverse demand function for your firm’s product. P = - Q
(b) Determine the profit-maximizing price and level of production.

Business

1 answer:

inysia [295] · Answer 1 · 2022-08-24T02:10:31+03:00

Answer

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Explanation

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