Econ Calculation Assignment

Econ Calculation Assignment Last document update:   ago

Econ Calculation Assignment Question Suppose there are only two donut shops, Brenda’s and Julie’s. These two donut shops produce identical products. Demand for donuts is given by the function: Q = 75 – P, where Q is the quantity of donuts and P is the price. Suppose that total costs for Brenda’s is given by TCBrenda = 0.1Q2Brenda and total costs for Julie’s donuts is given by TCJulie = 5QJulie a) If the two firms compete and choose output such that price equals marginal cost, what...