(20 points) Suppose a rm’s inverse demand for their product is P = 200 4Q + 6A”, where Q is the number of units sold and A is the dollar amount…

For this question, the solution that I keep getting is -268P+20023.4

My teacher’s solution shows that the answer should be -268P+19976.6

Can anyone help me figure out what I’m doing wrong, or is my teacher’s solution wrong?

3. (20 points) Suppose a firm’s inverse demand for their product is P = 200 — 4Q + 6A”,where Q is the number of units sold and A is the dollar amount spent on advertising. Further assume that the cost function for this firm is C(Q) = 2Q2 + 5Q. Determine theprofit maximizing level of sales and advertising expenditure. 2r=PQ—C(Q)—A7:2(200—4Q+6A”‘5)Q—2Q2—5Q—A 7:” = 20¢)Q—4Q2 + 6QA0’5 —2Q2 —5Q— A7: =195Q — 6Q2 + 6QA”‘S — A Take derivative with respect to Q and A and set equal to zero. al:l95—12Q+6A”’5=05Q a” 40,5 —=3 A —1=0 6A Q Solving for the two equations and two unknowns: Q* = 6.5 and A* =$380.25

Show more

Calculate Your Essay Price
(550 words)

Approximate price: $22

Calculate the price of your order

550 words
We'll send you the first draft for approval by September 11, 2018 at 10:52 AM
Total price:
The price is based on these factors:
Academic level
Number of pages
Basic features
  • Free title page and bibliography
  • Unlimited revisions
  • Plagiarism-free guarantee
  • Money-back guarantee
  • 24/7 support
On-demand options
  • Writer’s samples
  • Part-by-part delivery
  • Overnight delivery
  • Copies of used sources
  • Expert Proofreading
Paper format
  • 275 words per page
  • 12 pt Arial/Times New Roman
  • Double line spacing
  • Any citation style (APA, MLA, Chicago/Turabian, Harvard)

Our guarantees

Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.

Money-back guarantee

You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.

Read more

Zero-plagiarism guarantee

Each paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.

Read more

Free-revision policy

Thanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.

Read more

Privacy policy

Your email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.

Read more

Fair-cooperation guarantee

By sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.

Read more

Order your essay today and save 10% with the coupon code: best10