demand curve, marginal revenue curve and total cost curve for a product are as shown respectively Qd = 400 -2P MR = 200 -Q TC = 10Q . What is the profit-maximising level of output? [1] 0 [2] 10 [3] 190 [4] 200 [5] 400

demand curve, marginal revenue curve and total cost curve for a product are as shown respectively Qd = 400 -2P MR = 200 -Q TC = 10Q . What is the profit-maximising level of output? [1] 0 [2] 10 [3] 190 [4] 200 [5] 400

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

demand curve, marginal revenue curve and total cost curve for a product are as shown respectively Qd = 400 -2P MR = 200 -Q TC = 10Q . What is the profit-maximising level of output?

[1] 0

[2] 10

[3] 190

[4] 200

[5] 400

Defintion Defintion Curve that represents the graphical relationship between the total supply of goods and services and the price level in the economy. When the price level increases, producers tend to supply more of a product in the market to earn a higher revenue or vice versa.

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