A firm has the following demand and average total cost functions: Q = 30 − P ATC =7/Q− 6 +1/2Q Find: i. The total revenue function  ii. The total cost function  iii. The level of output that will maximize revenue and minimize total costs

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A: Given : TC = 15 + 5Q + Q2 Q = 30 – P  or P=30-Q

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