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nakungth nakungth
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6 years ago
The market structure of home video gaming systems is best characterized by monopolistic competition.  Quasar Entertainment is one of the producers in this market.  The inverse demand for Quasar systems is:
   P = 500 - 9.75Qd 
The resulting marginal revenue curve is
   MR(Qd) = 500 - 19.5 Qd.
Quasar's cost function is: 
   C(Q) = 0.25 Q2 + 6,250  MC(Q) = 0.5Q.
Determine Quasar's profit maximizing level of output and the price charged to customers.  Is this a long-run equilibrium?
Textbook 
Microeconomics

Microeconomics


Edition: 8th
Author:
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Bart_argBart_arg
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nakungth Author
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#2
6 years ago
A+ answer, ty
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