I only want a C and D solution 4/ Suppose that the total cost of a firm TC(Q) function =:TC(Q) = 75Q + 800And the demand function =:P = 600 – 5QFind the level output (Q) that maximizes the profit level (R).b)Find the value of the maximum profit (r).Find the selling price (P) at the maximum profit level.d)Verify that at the maximum profit level, the marginal revenue (MR) = the marginal cost (MC).

Quantity is denoted by Q and price is denoted by P. Profit = Revenue - Cost Revenue = Price per unit…

4/ Suppose that the total cost of a firm TC(Q) function =: TC(Q) = 75Q + 800 And the demand function =: P = 600 – 5Q a) Find the level output (Q) that maximizes the profit level (1). Find the value of the maximum profit (R). c) Find the selling price (P) at the maximum profit level. d) Verify that at the maximum profit level, the marginal revenue (MR) = the marginal cost (MC). b)

4/ Suppose that the total cost of a firm TC(Q) function =: TC(Q) = 75Q + 800 And the demand function =: P = 600 – 5Q a) Find the level output (Q) that maximizes the profit level (1). Find the value of the maximum profit (R). c) Find the selling price (P) at the maximum profit level. d) Verify that at the maximum profit level, the marginal revenue (MR) = the marginal cost (MC). b)

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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