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1.If demand function for a commodity is given by the ecuation p^2+4q-1600 and the supply function is given by the ecuation 300-p^2+2q=0.Find the equilibrium quantity and equilibrium price.
2.If the supply function for a commodity is p=q^2+8q+16 and the demand function is p=-3q^2+6q+436 find
a) The equilibriun quantity
b) equilibrium price.
3. Supose a company has fixed costs of $28,000 and variable costs 2/5x+222 dollars per unit, where x is te total number of units produced.
Suppose further that the selling price of its product is 1,250-3/5x dollar per unit.
a) Find the maximum revenue.
b) Form the profit function from the cost and revenue function and find maximum profit.
c) What price will maximize the profit
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Important information about Managerial Economics and Organizational Architecture - What do you think will happen to the price and quantity
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