A firm in a perfectly competitive market has the following cost function: C = 1/3q3 – 5q2 + 30q +10 If the market-clearing price is 6, obtain the profit maximising level of output.
OR
Given the demand function PD = 27 – Q 2 and supply function Ps = 2Q + 3. Assuming perfect competition, find (i) the consumers’ surplus, (ii) the producers’ surplus.
See Answer →A monopolist firm has the following total revenue and total cost functions:
R = -mQ2+ nQ ( m,n > 0)
C = aQ2+ bQ + c (a,b,c > 0)
Suppose that the government plans to levy an excise tax on the product of this firm and
wishes to maximise the total tax revenue T from this source. What tax rate t ( rupees per
unit of output) should the government choose?
A monopolist faces the demand curve Q = 60-P/2. The cost function is C=Q2 . Find the output that maximises this monopolist’s profits. What are the prices at profits and that output? Find the elasticity of demand at the profit maximising output.
See Answer →Entrepreneur and Manager
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See Answer →SWOT Analysis.
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