First Computational Exam Assume: Qd = 38.5 -10P and TC = 30 + .25Q Calculate using either solver, the five-step method, or the profit function method the following for profit max: P, Q, TR, TC,...

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First Computational Exam Assume: Qd = 38.5 -10P and TC = 30 + .25Q Calculate using either solver, the five-step method, or the profit function method the following for profit max: P, Q, TR, TC, Profit, and elasticity at profit max. Upload either your solver spreadsheet or a jpeg or pdf of your calculations to “Content”, Activities”, “Assignments” “computational exam #1” Good luck
Answered 11 days AfterOct 01, 2021

Answer To: First Computational Exam Assume: Qd = 38.5 -10P and TC = 30 + .25Q Calculate using either solver,...

Komalavalli answered on Oct 03 2021
128 Votes
Qd = 38.5 -10P
P = (38.5-Qd)/10
TC = 30+0.25Q
TR = P*Q
TR = 3.85Q – 0.1Q^2
MR = 3.85-0.2Q
MC =
0.25
At equilibrium MR = MC
3.85-0.2Q = 0.25
0.2Q = 3.85-0.25
0.2Q = 3.6
Q = 18.
P = (38.5-18)/10
P = 2.05
Total profit TP = TR-TC
TR = 3.85*18-0.1(18)^2
TR = 69.3-32.4
TR = 36.9
TC =...
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