Consider the following functions for a firm selling solar power units

Consider the following functions for a firm selling solar power units

following functions for a firm selling solar power units.
Consider the following functions for a firm selling solar power units.TR = $5,000Q – $3.902MR = $ 5,000 – $7.80TC = $100,000 + $1,160Q + $2.5Q2Slope of the AC curve = -100,000Q-2 + 2.5MC = $1,160 + $50a) Calculate the equilibrium price and output for this firm as a monopolist (show workings).b) Using the same total revenue and total cost functions calculate the long run equilibriumprice and output if this firm was a monopolistically competitive firm with a differentiatedproduct (show workings).c) Compare and contrast productive and allocation efficiency under each market structure(monopoly and monopolistic competition with differentiation) for the total revenue and totalcost functions provided (show workings

You may also like...