INDIVIDUAL ASSIGNMENT

A manufacturing company has the following revenue and cost structure:

TR = 90Q - 2Q², TC = 200 + 10Q + 2Q²

i.Determine the profit function of the company

ii.Calculate the company's Total Revenue, Total Cost, and Profit at level of output

iii. At what level of output the company maximizes profit, and why?

Q

Q TR TC Profit

1

2

3

4

5

6

7

8

9

10

11

12

13

14

15

16

17

18

19

20