Introduction to Economics | Unit 5 Part 2 | Market Equilibrium | Perfect competition | Economics 101

Market equilibrium determination by Total Approach
#Economics101 #Microeconomics #Macroeconomics
Other Economics Videos: • Freshman Economics

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ከቻልክ ዛሬ እና ነገ በ Oligopoly market structure and non collusive oligopoly model scha as
1. Kinked demand model
2. Cournot duopoly model
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4) A firm operates in a perfectly competitive market. The market price of its product
is 4 birr and the total cost function is given by Q
3
-5 Q
2
TC = +20Q+ 50, where TC
1
3
is the total cost and Q is the level of output.
A. What level of output should the firm produce to maximize its profit?
B. Determine the level of profit at equilibrium.
C. What minimum price is required by the firm to stay in the market?
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