2. Suppose a firm faces demand of Y = 300 – 2P and has a total cost curve of TC = 75Q + Q². a. What is the firm's marginal revenue? b. What is the firm's marginal cost? c. Find the firm's profit-maximizing quantity where MR= MC. d. Find the firm's profit-maximizing price and profit.

2. Suppose a firm faces demand of Y = 300 – 2P and has a total cost curve of TC = 75Q + Q². a. What is the firm's marginal revenue? b. What is the firm's marginal cost? c. Find the firm's profit-maximizing quantity where MR= MC. d. Find the firm's profit-maximizing price and profit.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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