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An oligopolist, the Bramwell Corporation

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Question

An oligopolist, the Bramwell Corporation has estimated its demand function and total cost functions to be as follows;Q = 25 - 0.05P;TC = 700 + 200Q;Answer the following questions either by developing demand and cost schedules, using quantities from 1 to 14, but preferably by algebraically solving the equations.;What will be the price and quantity if Bramwell wants to;1) Maximize profit?;2) Maximize revenue?;3) Determine the maximum revenue and the maximum profit for the oligopolist;NB: You can use excel to do the schedule, but as a supplement (attached alongside your response), this exercise needs be calculated out here algebraically here in addition to a spreadsheet calculation. You can also use the "insert table" feature within this window.

 

Paper#31471 | Written in 18-Jul-2015

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