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Which of the following represents the correct formulas for Pand MR in terms of Select one a

Which of the following represents the correct formulas for Pand MR in terms of Q? Select one: a. P=100-0.5Q ; MR=100-Q b. P=100-0.5Q2 ; MR=100Q-Q c. P=100+0.5Q ; MR=100-0.5Q d. P=0.5-100Q ; MR=-1+100Q Question 2 Not yet answered Marked out of 1.00 Flag question Question text Which of the following equations is correct, based on the data above? Select one: a. ATC=0.0015Q-0.1+1000Q b. MC=0.0045Q2-0.2Q+21.95 c. ATC=0.0015Q3-0.1Q2+21.95Q+1000 d. AVC=0.0015Q3-0.1Q2+21.95Q+1000Q Question 3 Not yet answered Marked out of 1.00 Flag question Question text The profit-maximizing quantity occurs at _______ and the profit-maximizing price occurs at _________. (Since MC is in terms of Q2, solving with calculus and algebra can be messy. Your table should give an exact answer.) Select one: a. Q=70; P=$65 b. Q=55; P=$90 c. Q=50; P=$75 d. Q=60; P=$70 Question 4 Not yet answered Marked out of 1.00 Flag question Question text How much total profit would your firm earn if you set P and Qat their profit-maximizing levels? Select one: a. $2,014 b. $-552 c. $1,487 d. $1,989 Question 5 Not yet answered Marked out of 1.00 Flag question Question text Describe the competitiveness of the market by calculating the Lerner index. Select one: a. 34.7% b. 48.0% c. 53.8% d. 44.9%

May 26 2020 View more View Less

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