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April 18th, 2011, 04:57 PM  #1 
Newbie Joined: Apr 2011 Posts: 1 Thanks: 0  Competitive fringe Economics Calculus question Please Help?
Could someone please help me solve an Economics Calculus problem Given Total Cost of fringe TC= 50 + 10q + 3q^2 MC = 10 + 6q Total Cost of Dominant firm TC = 12,000 + 3q + 5q^2 MC = 3 + 10Q P = 5000  Q Find Quantity for fringe Find Quantity for dominant firm Find Profit for fringe Find profit for dominant firm Here is an example problem A monopolist has a demand curve given by P(Q)=100Q and a total cost curve given by C(Q)=16+Q^2 where P:Price? Q:Quantity, C:total cost 1) Find the monopolist's profit maximizing quantity and price. How much economic profit does the monopolist earn Answer p=100Q c=16+Q^2 mc=2Q mr=1002Q mc=mr 2Q=1002Q Q=25 P=100(25) P=75 Profit = P*Q  (TC) Profit = 75*25  (641) Profit = 1234 Your help will be much appreciated. 

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