Competitive Market Structure

Question

From the scenario, assuming Katrina’s Candies is operating in the monopolistically competitive market structure and faces the following weekly demand and short-run cost functions:

VC = 20Q+0.006665 Q2 with MC=20 + 0.01333Q and FC = $5,000

P = 50-0.01Q and MR = 50-0.02Q

*Where price is in $ and Q is in kilograms. All answers should be rounded to the nearest whole number.

· o Algebraically, determine what price Katrina’s Candies should charge in order for the company to maximize profit in the short run. Determine the quantity that would be produced at this price and the maximum profit possible.

Question

Find the two sets of raw data, AccRet.txt and AlbHomw.txt, attached under this assignment.

I. Compute (by hand)  the N, Mean, Standard Deviation, Confidence Interval, and Z score for the variables “company market rate” and “accounting rate” respectively in the AccRet.txtdataset

Report your statistical results obtained from the AccRet.txt dataset.

II. Compute (by hand)  the N, Mean, Standard Deviation, Confidence Interval, and Z score for the variables “Price”, SqFt”, Age, Feats,  and “Tax” respectively in the AlbHome.txt dataset.

Report your statistical results obtained from the AlbHome.txt dataset.