Q=0, P=220; Q=2, P=200; Q=4, P=180; Q=6, P=160; Q-8, P=140; Q=10; P=120; Q=12, P=100. a) Based on the information in the table, what is the demand function for this market? b) Calculate total and marginal revenues for this market in the table c) if the total cost function for this market is TC = 500 + 10Q^(2), calculate the total and marginal costs for each of the quantities in the table
Q=0, P=220; Q=2, P=200; Q=4, P=180; Q=6, P=160; Q-8, P=140; Q=10; P=120; Q=12, P=100.
a) Based on the information in the table, what is the
b) Calculate total and marginal revenues for this market in the table
c) if the total cost function for this market is TC = 500 + 10Q^(2), calculate the total and
marginal costs for each of the quantities in the table
d) What are the profit-maximizing quantity,
e) If there are two firms Atlas and Bowden in this market with the same earlier total cost function and they engage in Cournot competition, what is each firm's
f) Is this a long-run equilibrium? Why or why not?
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