4.) A firm has the following total-cost and demand functions: C-0²-10¹+1110+50 Q-100-P a) Write-out the total revenue function R in terms of Q b) Formulate the total profit function in terms of Q c) Find the profit-maximizing output level Q d) What is the maximum profit?
4.) A firm has the following total-cost and demand functions: C-0²-10¹+1110+50 Q-100-P a) Write-out the total revenue function R in terms of Q b) Formulate the total profit function in terms of Q c) Find the profit-maximizing output level Q d) What is the maximum profit?
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Can i have the clear written solution? Thank you!
![4.) A firm has the following total-cost and demand functions:
C=0²-70¹ +1110+50
Q-100-P
a) Write-out the total revenue function R in terms of Q
b) Formulate the total profit function in terms of Q
c) Find the profit-maximizing output level Q
d) What is the maximum profit?](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fa882e0cf-c451-44b6-8abd-6ee391c9dcc8%2Ff2a7d998-0517-415e-8aca-efe786224932%2Fdxjq2lp_processed.png&w=3840&q=75)
Transcribed Image Text:4.) A firm has the following total-cost and demand functions:
C=0²-70¹ +1110+50
Q-100-P
a) Write-out the total revenue function R in terms of Q
b) Formulate the total profit function in terms of Q
c) Find the profit-maximizing output level Q
d) What is the maximum profit?
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