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Drez de Prunz ventures, is the producer of quality men's suit for the members of parliament in Mauritius. The demand function of the firm is
Drez de Prunz ventures, is the producer of quality men's suit for the members of parliament in Mauritius. The demand function of the firm is given as 400 4 += QP , and its total cost function is also given asQ QTC 80 95000 2 +=
i) Find an expression for total revenueii) At what quantity will total revenue be maximized?iii) Estimate the maximum total revenueiv) Find the minimum total cost of the firmv) At what price and quantity will profit be maximized?
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