3. A firm has the following total Corst and demand function C=}Q-7Q+ liQ + So, Q = 100-P %3D a. Write ouf the total revenue funeton R) lu termr of Q 6. Formulale the total profif functuon (T) I.TO Q C. Find #he profit-maximizing level of oufpuf o d. elhat is the maximum profit? e Show hatf profit is indeed maximized af that level

3. A firm has the following total Corst and demand function C=}Q-7Q+ liQ + So, Q = 100-P %3D a. Write ouf the total revenue funeton R) lu termr of Q 6. Formulale the total profif functuon (T) I.TO Q C. Find #he profit-maximizing level of oufpuf o d. elhat is the maximum profit? e Show hatf profit is indeed maximized af that level

Exploring Economics

8th Edition

ISBN:9781544336329

Author:Robert L. Sexton

Publisher:Robert L. Sexton

Chapter12: Firms In Perfectly Competitive Markets

Section: Chapter Questions

Problem 6P

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