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A firm's demand function is Q = 16 - P and its total cost function is defined as TC = 3 + Q + 0.25
A firm's demand function is Q = 16 - P and its total cost function is defined as TC = 3 + Q + 0.25Q2. Use these two functions to form the firm's profit function and then determine the level of output that yields the profit maximum. What is the level of profit at the optimum? P= 39-0.6Q C=50+0.1Q^3 Quantity - 9.575835 Price - 33.2545 Revenue - 318.4396 Cost - 137.8072 Profit - 180.6324 Marg Revenue - 27.509 Marg Cost 27.50898 Marg Profit 1.37E-05 |
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