The demand function for a product sold by a monopolistically competitive firm is given below:
$$Q D = 250 - P$$
The firm's marginal cost function is given below:
$$M C = 10 + 2 Q$$
Calculate the equilibrium price and quantity.

Question

The demand function for a product sold by a monopolistically competitive firm is given below:
 $$Q D = 250 - P$$
The firm's marginal cost function is given below:
$$M C = 10 + 2 Q$$
Calculate the equilibrium price and quantity.

Quizplus · Accepted Answer

The Answer of The demand function for a product sold by a monopolistically competitive firm is given below:
 $$Q D = 250 - P$$
The firm's marginal cost function is given below:
$$M C = 10 + 2 Q$$
Calculate the equilibrium price and quantity.

The Demand Function for a Product Sold by a Monopolistically QD=250−PQ D = 250 - PQD=250−P

The Demand Function for a Product Sold by a Monopolistically $Q D = 250 - P$