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In: Economics

MC = $10/ton Price = $30/ton Quantity = 30 Million tons Find the linear demand function...

MC = $10/ton

Price = $30/ton

Quantity = 30 Million tons

Find the linear demand function and profit

Solutions

Expert Solution




^ thus far, dP/dQ has been considered to be the magnitude of the demand curve, so that we can avoid the hassle of working with a negative sign and having to remember it for every step. Now, we incorporate the consideration that for a demand curve dP/dQ will be negative.



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Rahul Sunny answered 1 year ago
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