a firm with total revenue TR= 100Q-Q^2 and TC = (1/3)Q^3 - 7Q^2 + 111Q + 50Find the profit...

Question

a firm with total revenue TR= 100Q-Q^2 and TC = (1/3)Q^3 - 7Q^2 + 111Q + 50Find the profit maximizing level of output Q

David · Accepted Answer

A firm with total revenue TR= 100Q-Q^2 and TC = (1/3)Q^3 - 7Q^2 + 111Q + 50 
Find the profit maximizing level of output Q 
Answer: 
TR= 100Q-Q^2 
MR = dTR/dQ = 100 – 2Q 
TC = (1/3)Q^3 - 7Q^2 + 111Q + 50 
MC = dTC/dQ = Q^2 – 14Q + 111 
At the profit maximization, MR = MC i.e.

a firm with total revenue TR= 100Q-Q^2 and TC = (1/3)Q^3 - 7Q^2 + 111Q + 50 Find the profit maximizing level of output Q

Solution

Answer To This Question Is Available To Download

Related Questions & Answers

Submit New Assignment