8. The poster bed company believes that its industry can best be classified as monopolistically competitive. An analysis of the demand for its canopy bed resulted in the following estimated demand function for the bed: P=1760-12Q;The cost analysis department estimates the total cost function for the poster bed as TC=1/3 Q3-15Q2+5Q+24000;a. Calculate the level of output that should be produced to maximize short run profits.
Paper#28793 | Written in 18-Jul-2015Price : $22