Question
A perfectly competitive firm was given, P = 60 and TC =
Q2 + 8Q + 10. Now price decreases to 54, what is the change in profit?Solution
MC = 2Q + 8 For perfect competition, P = MC So, 2Q + 8 = 60 Q = 52/2 = 26 Profit = (60*26) – (262 + 8*26 + 10) = 1560 – (676 + 208 + 10) = 666 Now, P decreases to 54; So, 2Q + 8 = 54 Q = 23 Profit = (54*23) – (232 + 8*23 + 10) = 1242 – (529 + 184 + 10) = 519 Change in profit = 519 – 666 = -147 Decreases by 147
The National Education Day is observed on?
Match the following
Which city was ranked as the costliest city for international workers in Mercer’s 2024 cost of living data?
What is the theme of World Pulses Day 2024?
Exercise Samudra Laksamana aims to enhance maritime cooperation between which two countries?
Who became the winner of the Tel Aviv Open title held in Israel?
 Which of the two states have allocated the most in the education sector in the budget 2023?
Rajasthan literature festival 2023 was started in ________ during March 2023.
The solvency requirement set by IRDAI for surety bonds is:
‘Bima Ratna’ a savings life insurance plan is being launched by which of the following insurance companies?
