joco93021 joco93021

23-04-2024
Business

Answered

Your firm is a monopoly supplier of a good. The inverse demand for your good (in dollars) is given by P=250−0.02Q . Your firm's cost function (in dollars) is C(Q) =400000+22Q+0.01Q2. Some of that cost comes from a critical part that you import from England that currently costs you $12.00 US for every unit of output that you produce.

The current exchange rate is 1.20 $/£. How much profit (in $US) does your firm make? Round your answer to the nearest penny.

If the exchange rate rises to 1.50 $/£, how much profit (in $US) does your firm make? Round your answer to the nearest penny.

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