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1 Candak Corporation produces professional quality digital

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1 Candak Corporation produces professional quality...
1 Candak Corporation produces professional quality digital cameras. The market for professional digital cameras is monopolistically competitive. Assume that the demand curve faced by Candak (given its competitors’ prices) is P = 5,000 - .2Q and Candak’s total costs can be expressed as TC = 1,000,000 + .05Q2. Answer the following questions.

a. What price and quantity will Candak choose?

b. Is this likely to be a long-run equilibrium for Candak Corporation? Why or why not? If not, what is likely to happen in the market for professional digital cameras, and how will it affect Candak?
Submitted: 7 years ago.Category: Homework
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Answered in 1 minute by:
3/1/2010
Tutor: Steve, MBA replied 7 years ago
Steve
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No problem. When do you need this by?
Steve
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Customer reply replied 7 years ago
By Thursday
Tutor: Steve, MBA replied 7 years ago

Hi Customer,

 

Can you please confirm that this question was directed specifically to me so that no other experts jump in on it?

 

Also, when you request questions for me, please also put my name in the title so it is clear to other experts as well.

 

Thanks very much! Will have this for you shortly.

 

Steve

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Customer reply replied 7 years ago
Yeah this question was directed specifically to you but it looks like Marty28 answered it. I havent accepted his answer yet because its not very clear. Should I tell him it was directed to you? Next time I will make sure I put your name in the title.
Tutor: Steve, MBA replied 7 years ago

Hi,

 

He actually answered your other one, this one is still open for me, I will get you an answer to this one later today or perhaps tomorrow.

 

For the one that he answered, it is up to you, you can ask him to clarify his answer or respond saying that you only want me to answer it.

 

Thanks and thanks for requesting me - much appreciated!

 

Steve

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Customer reply replied 7 years ago
I told him you were answering my question. So I need it by Thursday
Tutor: Steve, MBA replied 7 years ago
Yup no prob. Will get you both answered on time. Thanks!
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Tutor: Steve, MBA replied 7 years ago

Your answers are here:

 

http://cid-de13092d36726788.skydrive.live.com/browse.aspx/Public/candak

 

There are two files. Please accept if satisfied or let me know if you have questions.

 

Steve

 

 

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Customer reply replied 7 years ago
The link provided gives me the answer to my second question (The Time and Newsweek) instead of the one above.
Tutor: Steve, MBA replied 7 years ago

Sorry one sec.

 

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Tutor: Steve, MBA replied 7 years ago
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