Question
A firm has the following total revenue and total cost functions: TR = 21Q - Q2 TC = + + A. At what level of
A firm has the following total revenue and total cost functions: TR = 21Q - Q2
TC = + +
A. At what level of output does the firm maximize total revenue? How do you know?
B. How much is the firm's TR at its maximum?
C. Find the firm's total profit function. At what level of output does the firm maximize total profit? How do you know?
D. How much is the firm's total profit at its maximum?
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Managerial Economics And Financial Analysis
Authors: M.S. Bhat, A.V. Rau
1st Edition
9352300211, 978-9352300211
