q = 5,000 - 100p

Question

tc= 10,000 - 10q
plot the demand curve
marginal revenue curve
marginal cost curve
profit maximising price, quantity, and profits

Answer 1

MC=MR UNDER COMPETITIVE MARKET

FIRST DIFFERENTIATED MC = 10
MR=5000-0.02Q
MC=MR THEN EQUAL FIND Q
10=5000-0.02Q
Q=2000UNITS
P=5000-0.01Q WHEN Q=2000 SUBSTITUTE
P=K30
PROFIT=TR-TC
P=K30000