Question
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 agoRelated Solutions
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Table
1
Price
Quantity Demanded
Quantity Supplied
$10
10
60
$8
20
45
$6
30
30
$4
40
15
$2
50
0
1
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