The owners of a s uc c es s ful res taurant want a loan for $50,000 to renovate the k itc hen and ex pand the dining room.
September 3, 2020
you are the manager of a monopoically competititve firm, and your demand and cost functions are given by Q=20-2P and C(Q)+ 104-14Q+Q2.a. find the inverse demand function for your firms productb. determine the profit-maximizing price and level of productionc. calculate your firms maximum profitsd. what long-run adjustments should you expect/ explain
September 3, 2020

you are the manager of a monopoically competititve firm, and your demand and cost functions are given by Q=20-2P and C(Q)+ 104-14Q+Q2.a. find the inverse demand function for your firms productb. determine the profit-maximizing price and level of productionc. calculate your firms maximum profitsd. what long-run adjustments should you expect/ explain

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