Question
Consider a firm experiencing the demand function and cost function given below. Use these function to calculate the required optimal values. If needed, round to
Consider a firm experiencing the demand function and cost function given below. Use these function to calculate the required optimal values. If needed, round to one decimal.
Inverse Demand P = 11-0.5q
Cost Function TC = 48 + 9q - 0.3q2
1. Find the quantity that will maximize the revenue of this firm. 2. Find the quantity that will maximize the profit of this firm. 3. Find the quantity that will minimize the costs for this firm.
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Macroeconomics Principles and Applications
Authors: Robert E. Hall, Marc Lieberman
6th edition
1111822352, 1111822354, 9781133708742 , 978-1111822354
