# You are given the following data for your firm, which sells high-capacity video MP3 players. Determine equations for P=f(Q), MR=f(Q), ATC=f(Q, Q 2 ),

You are given the following data for your firm, which sells high-capacity video MP3 players.a.Determine equations for P=f(Q), MR=f(Q), ATC=f(Q, Q2), AVC=f(Q, Q2), MC=f(Q, Q2). Recall that your marginal equations should be derivatives of your totals!b.Determine the profit-maximizing price and quantity. (Since MC is in terms of Q2, solving with calculus and algebra can be messy. Your table should give an exact answer.)c.How much total profit would your firm earn if you set P and Q according to part b?d.Describe the competitiveness of the market by calculating the Lerner index.Q P TC0 \$1,000 \$1,5002 \$960 \$2,5684 \$920 \$3,6606 \$880 \$4,8248 \$840 \$6,10810 \$800 \$7,56012 \$760 \$9,22814 \$720 \$11,16016 \$680 \$13,40418 \$640 \$16,00820 \$600 \$19,020

### Pssst…Are you looking for assignment help?

We have experienced native experts to complete any assignment you may have. Plagiarism Free & Great Quality. (Full Refund Provided)

## << SAVE15 >>

Place your first order with code to get 15% discount right away!