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Firm Z faces the price equation P = 50 + A.5 - Q, and the cost function C = 20Q + A, where A denotes advertising spending.
a. Other things (price) held constant, does an increase in advertising spending lead to greater sales? Does advertising spending represent a fixed cost or a variable cost?
b. Find the firm's profit-maximizing quantity as a function of A. (Hint: Treating A as fixed, we have MR = 50 + A.5 - 2Q.) Do the same for the firm's price. Explain these results.
c. Using the results in part (b), write the firm's profit expression in terms of A alone. Find the firm's optimal level of advertising. Find its optimal quantity and price.
1. when the government increases taxes to provide traditional public goods such national security there tends to bea.
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Customers to Live Theaters, Inc. can be divided into two groups: seniors and everyone else. The inverse demand curves for each of the two groups are given below. The marginal cost (which equals the average variable cost) of serving an additional p..
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1 tell how they combine to insure that in the long run a firm in a perfectly compitive industry make zero profit and is
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