SOLUTION: Hi there, please assist me with this question Mbali makes cupcakes in Meadowlands Soweto. Due to her success, she can set price in the market for her cupcakes. The inverse mar

Question 1195998: Hi there, please assist me with this question
Mbali makes cupcakes in Meadowlands Soweto. Due to her success, she can set price in the
market for her cupcakes. The inverse market demand for cupcakes is represented by:
P=100-Q, the while the marginal cost of her cupcake is R10.
i)
Calculate the slope of the Isoprofit curve (function) when she sells 40 cupcakes.
[ 12 marks]
ii)
Calculate the equilibrium price and quantity of the cupcakes in the market.
[ 5 marks]
iii)
Explain the marginal cost in this scenario [ 3 marks]
Answer by Rasengwe(1) (Show Source): You can put this solution on YOUR website!

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