1. TC = 400 + 35Q – 6Q2 + 0.1Q³ Draw TC, TFC, MC and TVC schedule with graphsfrom Q=10 to Q=502. TR = 53.5Q – 0.7Q? Calculate and draw the graphs of TR, MR and AR3. Also do the following for the functions given in question 3 and 4:a. Calculate maximum profitb. Show at what quantity the Profit is Maximum.c. Show the point if MC and MR are equal at maximum profit quantity.

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1. TC = 400 + 35Q – 6Q² + 0.1Q³ Draw TC, TFC, MC and TVC schedule with graphs from Q=10 to Q=50

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ISBN:9780190931919

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Chapter1: Making Economics Decisions

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Problem 1QTC

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Question

1. TC = 400 + 35Q – 6Q2 + 0.1Q³ Draw TC, TFC, MC and TVC schedule with graphs
from Q=10 to Q=50
2. TR = 53.5Q – 0.7Q? Calculate and draw the graphs of TR, MR and AR
3. Also do the following for the functions given in question 3 and 4:
a. Calculate maximum profit
b. Show at what quantity the Profit is Maximum.
c. Show the point if MC and MR are equal at maximum profit quantity.

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