Question;You are the manager of a monopolistically competitive firm, and your demand and cost functions are given by Q = 36 ? 4P and C(Q) = 124 ? 16Q + Q2.a. Find the inverse demand function for your firm?s product.b. Determine the profit-maximizing price and level of production.Instruction: Price should be rounded to the nearest penny (two decimal places).Price: $Quantity:c. Calculate your firm?s maximum profits.
Paper#57828 | Written in 18-Jul-2015Price : $22