Suppose your fixed cost is 10% of your maximum revenue, ($4,202,500). Assume that you don’t have any variable cost. What is the profit maximizing price
Suppose your fixed cost is 10% of your maximum revenue, ($4,202,500). Assume that you don’t have any variable cost. What is the profit maximizing price and quantity now that you have included the fixed cost? 2. Now suppose that in addition to your fixed cost above, your is 50% of the price you found in part 5a, ($410). Based on this information, show your total cost equation. 3. Now that you have your total cost equation, find the price and quantity at which your profit is maximized (taking into consideration both the fixed cost and variable cost). Show your work completely. 4. Now complete the table by adding two more columns in which you show the fixed cost and total cost for every quantity in column 1, as shown below. Draw your revenue curve again, and this time include your fixed cost and total cost on the graph and identify the quantity at which profit is maximized.
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