Answer to Question #328489 in Microeconomics for Girma

Question

Chapter 5 Review question on PCM

4. A Perfectly competitive firm has a domesticdemand curve is P = 100. The firm’s total cost

function is TC = 2Q2 + 20Q. Costs andprices are in ETHIOPIAN Birr. Based on thisinformation.

A. Drive the revenue function

B. Calculate the equilibrium level of output, and profit?

C. Calculate shout down level of output, and Profit?

D. Calculate the break even level of Output, and Profit?

Answer 1

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