A Firm Faces the Demand Curve, P = 80 -

question 34

Essay

A firm faces the demand curve, P = 80 - 3Q, and has the cost equation: C = 200 + 20Q, where P = price, C = total cost, and Q = quantity.
(a) Find the optimal quantity and price for the firm.
(b) Now suppose that the demand for the firm’s product changes to: P = 110 – 3Q. Find thenew optimal quantity and price. Has there been an increase or a decrease in demand?
Explain.

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Definitions:

Caring Relationships

Interpersonal interactions that are characterized by empathy, compassion, and support towards the well-being of another.

Daily Work

Routine tasks and responsibilities that an individual undertakes on a regular basis, often associated with their occupation or everyday life.

Nursing

The profession or practice of providing care for the sick and infirm, often emphasizing compassion, clinical knowledge, and technical skill.

Reflective Caring Systems

Healthcare systems or models that focus on thoughtful self-awareness and empathy in caregiving practices.