Question
Firm's revenue is R ( Q ) = 8 Q - Q 2 and cost is C ( Q ) = 10 + Q 2
Firm's revenue is R(Q) = 8Q - Q2 and cost is C(Q) = 10 + Q2.
a (1 point). What is the marginal revenue?
b (1 point). What is the marginal cost?
c (1 point). What is the profit-maximizing quantity?
d (1 point). Should the firm produce the profit-maximizing quantity in a short-run?
e (1 point). Calculate firm's economic profit at the profit-maximizing quantity.
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Research Design Qualitative Quantitative And Mixed Methods Approaches
Authors: John W. Creswell, J. David Creswell
5th Edition
1506386709, 9781506386706
