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A firm manufactures and sells a product that has the following demand function: Q = 180 - 4P where P is price, Q is quantity. It also faces the following total cost (TC) function:
TC =0.033Q2 + 15Q+150 where Q is quantity produced. (i) Determine the firm's profit function.
(ii) Using your profit function measured in part (i) find the level of output where the firm maximises its profit.
Suppose a small open economy is characterised by the following equations/information: Y =6K 0 L 1-α K 0 = 30,000 L 0 = 10,000
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Profit maximization is theoretically the most sound but practically unattainable objective of business firms. In the light of this statement critically appraise the Baumol’s sales
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A chance sample of visitors to a National Park was interviewed regarding their impressions of the Park. Of 200 interviewees, 120 said that they would probably make a return visit
The inverse demand and supply functions for a product are given as: where P is price, Q is quantity and the subscripts d and show demand and supply, respectiv
Calculate the incremental profit Electron Control would earn by customizing its instruments and marketing directly to end users.
if there is no autocorrelation what will be done
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