A firm has the following total revenue and total cost functions: TR = 21Q - Q2 TC

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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?

Posted Date: Jun 13, 2024 02:13 PM

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A firm has the following total revenue and total cost functions: TR = 21Q - Q2 TC

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