A firm's total revenues depend on the amount produced (q) according to the function R=240 q-q^(2) Total costs also depend on q:C=q^(2)+60 q+120 a) What level of output should the firm produce in order to maximize profits? What will profits be? b) Show that the second order conditions for a maximum are satisfied at the output level found in part b)

Q: You produce and sell Cillipods. Your average cost (in dola Cillipod) for manufacturing q Cillipods…

A: TC = q x AC = q3 - 30q2 + 5000 MC = dTC/dq = 3q2 - 60q

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Q: None

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A: Total Cost = 45,000 Quantity = 500   If produces 1000 units then TC = 100,000

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A: Formulas used in the question are as follows:   Average Fixed Cost = Total Fixed Cost/ Output…

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A: Since you have posted a question with multiple sub-parts, we will solve the first three sub-parts…

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A: Cost: It is the value of goods and services in terms of money.

Q: profits

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A: C(QA)=130+6QA+2QA2

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A: Answer to the question is as follows :

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