BUS 642 BUS 640-What are the profit-maximizing price
What are the profit- maximizing price and output levels? It’s demand curve for the product is expressed as Q= 5000- 25P where Q is the number of vacuum cleaners per year and P is in dollars. Cost estimation processes have determined that the firm’s cost function is represented by TC= 1500 + 20Q+ 0.02Q2. Explain and plot in algebraic ally for equilibrium P (price) and Q (output).
