First Computational Exam: Profit Max and Multi-markets Problem #1 Let: TC = 4 + 6q + .4q2 P =...

Question

First Computational Exam:

Profit Max and Multi-markets

Problem #1

Let: TC = 4 + 6q + .4q²

P = 20 - .04q

Using solver find the profit max P and Q Show you work in a single spreadsheet not just answers.

Problem #2

Assume two markets

Market 1:

Q¹_d = 10 -2P₁ + 4P₂ and Q¹_s= 5 + 2P₁

Market 2:

Q²_d= 40 +4P₁ -2P₂ and Q²_s= 4P₂

Find: The multi-market equilibrium P and Q for both markets. Show your work not just answers.

Use the same spreadsheet as in Problem #1.

Due Sunday night 2/17 by midnight. Upload in “activities” then “assignments” in D2L under “Computation Exam Markets/Profit”.

Mohammad Wasif · Accepted Answer

Problem 1
		p	q	14q-0.44q^2-4
		19.36	15.91	107.36
Problem 2
				P1	P2
				22.5	21.25
			QD1	50		QD1-QS1	0
			QS1	50
			QD2	85		QD2-QS2	0
			QS2	85
Sheet3

First Computational Exam: Profit Max and Multi-markets Problem #1 Let: TC = 4 + 6q + .4q 2 P = 20 - .04q Using solver find the profit max P and Q Show you work in a single spreadsheet not just...

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