Firms with market power, A firm with market power has estimated the following demand, Managerial Economics

Firms with market power, Managerial Economics

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A firm with market power has estimated the following demand function for its product: Q = 12,000 – 4,000 P where P = price per unit and Q = quantity demanded per year.
The firm’s total costs are $4,000 when nothing is being produced. These costs increase by 50 cents for each unit produced.
What is theequation for the firm’s total cost function and marginal cost function

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Firms with market power, Managerial Economics

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