Define Q to be the level of output producedand sold, and assume that the company totalcost function is TC = 20 + 5Q + Q2. Thedemand for the output has been estimated tobe Q = 25 – P. Total revenue is TR = P*Q. Findthe profit-maximizing quantity of output.

The firms in every market are the sellers, suppliers, or the producers of goods, and services. The…

Define Q to be the level of output produced and sold, and assume that the company total cost function is TC = 20 + 5Q + Q<. The demand for the output has been estimated to be Q = 25 – P. Total revenue is TR = P*GQ. Find the profit-maximizing quantity of output. %3D

Define Q to be the level of output produced and sold, and assume that the company total cost function is TC = 20 + 5Q + Q<. The demand for the output has been estimated to be Q = 25 – P. Total revenue is TR = P*GQ. Find the profit-maximizing quantity of output. %3D

Micro Economics For Today

10th Edition

ISBN:9781337613064

Author:Tucker, Irvin B.

Publisher:Tucker, Irvin B.

Chapter8: Perefect Competition

Section: Chapter Questions

Problem 11SQ

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Maria manages a bakery, that specializes in ciabatta bread, and has the following information on demand and costs: Ciabatta Bread Sold Price Per Hour (Q) (P) 0 $6.00 1 5.50 2 5.00 3 4.50 4 4.00 5 3.50 6 3.00 7 2.50 8 2.00 Total Cost (TC) $2.00 6.50 10.00 13.00 15.50 17.50 19.00 21.00 24.00 loaves of ciabatta bread per hour. (Enter your response as an integer.) a. To maximize profits, Maria should sell Maria should charge a price of $ Maria's maximum profit is $ (Enter your response rounded to two decimal places.) (Enter your response rounded to two decimal places.) (Enter your b. The marginal revenue when selling the profit-maximizing number of loaves of ciabatta bread is $ response rounded to two decimal places.) The marginal cost when selling the profit-maximizing number of loaves of ciabatta bread is $. (Enter your response rounded to two decimal places.)
Please see attachments and type out the correct answer ASAP with proper explanation of the each sub question given . Will give you upvotes only for the correct answer. Thank you. Answer within 40 min.
Maria manages a bakery, that specializes in ciabatta bread, and has the following information on demand and costs: Ciabatta Bread Sold Per Price Total Cost Hour (Q) (P) (TC) $6.00 $1.50 1 5.50 5.00 2 5.00 7.50 3 4.50 9.50 4 4.00 11.00 3.50 12.00 6 3.00 12.50 7 2.50 13.50 8 2.00 15.50 a. To maximize profits, Maria should sell loaves of ciabatta bread per hour. (Enter your response as an integer.)
Using the figure above, what is the total revenue for the firm?
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Maria manages a bakery, that specializes in ciabatta bread, and has the following information on demand and costs: Ciabatta Bread Sold Per Hour (Q) Price (P) Total Cost (TC) 0 $6.00 $1.50 1 5.50 6.00 2 5.00 9.50 3 4.50 12.50 4 4.00 15.00 5 3.50 17.00 6 3.00 18.50 7 2.50 20.50 8 2.00 23.50 a. To maximize profits, Maria should sell nothing loaves of ciabatta bread per hour. (Enter your response as an integer.)
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