Find the price of pizza and hamburger

Assignment Help Macroeconomics

Reference no: EM132371187

Assignment - Compute all answers in Excel, show your equations, and turn in only one spreadsheet with both answers on it

Q1. Assume:

TC = 4 + 2q + .6q²

P = 25 - 2q

What is the profit max price, Q, revenue, and cost?

Q2. Assume two markets;

Fish= Qs = 20+.1P_f Qd = 30 - .6P_f + .8P_l

Lamb= Qs = 5+.4 P_l Qd = 15 -.45P_l + .35P_f

Find the price of pizza and hamburger that clears both markets at the same time.

Note - Solved in excel spreadsheet.

Reference no: EM132371187

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