Question

5. Total Cost = 50 + 5Q3 If the firm was in a perfectly competitive market and 9 units of the good were being sold it would mean the market price is about dollars. Assume the firm is profit maximizing. 6. Total Cost = 50 + 5Q3 and Price= 5000 - 275Q Given these functions, what would be the profit maximizing output? 7. Price = 100 - 2 Q1 -Q2 The cost function for firm 1 is: Total Cost= 2 * Q21 and the cost for firm 2 is: Total Cost= 3 * Q22 If both firms agree to work together and maximize joint profits it would result in a market price of 8. Consider the following demand curve for good X which is produced by Firms 1 and 2: Price = 100 - 2 Q1 -Q2 Total Cost = 50 + 5Q3 and Price= 5000 - 275Q Given these functions, what would be the profit maximizing output? Price = 100 - 2 Q1 -Q2 The cost function for firm 1 is: Total Cost= 2 Q21 and the cost for firm 2 is: Total Cost= 3 * Q22 If both firms competed with each other, it would result in a market price of ______. To answer your question assume the following "best response" functions. Q1= (100-Q2) / 8 Q2= (100-2Q2)/8

          5. Total Cost = 50 + 5Q3
If the firm was in a perfectly competitive market and 9 units of
the good were being sold it would mean the market price is about
________ dollars. Assume the firm is profit maximizing.
6. Total Cost = 50 + 5Q3 and Price= 5000 -
275*Q
Given these functions, what would be the profit maximizing
output?
7. Price = 100 - 2 *Q1 -Q2
The cost function for firm 1 is:
Total Cost= 2 * Q21
and the cost for firm 2 is:
Total Cost= 3 * Q22
If both firms agree to work together and maximize joint profits
it would result in a market price of ______
8. Consider the following demand curve for good X which is
produced by Firms 1 and 2:
Price = 100 - 2 *Q1 -Q2
Total Cost = 50 + 5Q3 and Price= 5000 -
275*Q
Given these functions, what would be the profit maximizing
output?
Price = 100 - 2 *Q1 -Q2
The cost function for firm 1 is:
Total Cost= 2 * Q21
and the cost for firm 2 is:
Total Cost= 3 * Q22
If both firms competed with each other, it would result in a
market price of ____________. To answer your question assume the
following "best response" functions.
Q1= (100-Q2) / 8
Q2= (100-2Q2)/8

Added by Consuelo S.

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