Suppose a Firm Faces the Demand Function Q = 800

question 66

Multiple Choice

Suppose a firm faces the demand function q = 800 - 4P. The firm's total production costs are given by MC(q) = 9.5q + q². If the firm cannot price discriminate, its profit-maximizing price is $____.

• A) 200
• B) 197.50
• C) 175.25
• D) 100

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Definitions:

Aristotle

Ancient Greek philosopher and polymath, a student of Plato and teacher of Alexander the Great, whose works covered various subjects including physics, metaphysics, poetry, theater, music, logic, rhetoric, politics, government, ethics, biology, and zoology.

Dionysian

Nietzsche’s term for the irrational, energetic principle within art, manifest particularly in music.

Aesthetic Experience

Involves the appreciation of beauty or an artwork through the senses, causing an emotional or intellectual response based on the principles of aesthetic judgment.

Kant

Immanuel Kant was an 18th-century German philosopher whose work in epistemology, ethics, and aesthetics had a profound influence on modern philosophy.