.Homework Answers
1) the marginal cost given is 10
the demand function given as Q= 20 - 10P so the total revenue will be
TR = Q*P = (20 - 10P) * P = 20P - 10P2
MR = d(TR)/ d (p) = 20 - 20P
now to get the equilibrium price per unit we need to equalise both the MC and MR
MC = MR
10 = 20 - 20P
20P = 10
P = 10/20 = 0.5 cents per unit sushi.
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