QUESTION 4 Assume the following Demand Function: q + 10p = 1250 Assume the following Average cost curve: 1000 AC = -+5+ 0.19 A. What is the fixed cost? B. Assume the firm can not make any excess...

a) What is the fixed cost?

b) Assume the firm can not make any excess profit and instead aims to sales maximise. Calculate the price and quantity at that point

c)Find the profit maximising price and quantity

d)Calculate the total profit using the Total cost and Total revenue functions.

e)Find the Consumer surplus using integration. You must show the integral before inputting numbers.

Extracted text: QUESTION 4 Assume the following Demand Function: q + 10p = 1250 Assume the following Average cost curve: 1000 AC = -+5+ 0.19 A. What is the fixed cost? B. Assume the firm can not make any excess profit and instead aims to sales maximise. Calculate the price and quantity at that point (note: Not round numbers) C. Find the profit maximising price and quantity D. Calculate the total profit using the Total cost and Total revenue functions. E. Find the Consumer surplus using integration. You must show the integral before inputting numbers. on