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The manufacturer of high quality flatbed scanners is trying to decide what price to set for its product. The cost of production and the demand for the product are assumed to be as follows:
TC = 10,000 + 100Q + 0.02Q^2
Qd =20,000 - 100 P
a) Algebraically calculate the short-run profit maximizing price and quantity.
b) algebraically calculate the maximum profit accruable to the firm.
c) Estimate algebraically the maximum revenue accruable to the firm
At several universities and colleges, business professors receive higher salaries than professors in others fields. Why might this be the case?
Market Structure and Pricing Decision Applied Problems, BUS 640 Managerial Economic,
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