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Strayer Eco550 week 6 discussions

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Question;Maximizing;Revenue" Please respond to the following;* From the scenario, assuming;Katrina?s Candies is operating in the monopolistically competitive market;structure and faces the following weekly demand and short-run cost functions:VC = 20Q+0.006665 Q2 with MC=20 + 0.01333Q and FC = $5,000P = 50-0.01Q and MR = 50-0.02Q*Where price is in $ and Q is in kilograms. All answers should be;rounded to the nearest whole number.;Algebraically, determine;what price Katrina?s Candies should charge if the company wants to maximize;revenue in the short run. Determine the quantity that would be produced at this;price and the maximum revenue possible"Market;Structures" Please respond to the following;* From the scenario;assuming Katrina?s Candies is operating in the monopolistically competitive;market structure and faces the following weekly demand and short-run cost;functions:VC = 20Q+0.006665 Q2 with MC=20 + 0.01333Q and FC = $5,000P = 50-0.01Q and MR = 50-0.02Q*Where price is in $ and Q is in kilograms. All answers should be;rounded to the nearest whole number.;Algebraically, determine;what price Katrina?s Candies should charge in order for the company to maximize;profit in the short run. Determine the quantity that would be produced at this;price and the maximum profit possible.

 

Paper#55905 | Written in 18-Jul-2015

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