Firms total revenue?Firms total cost?Firms total profit? Question 37A perfectly competitive firm has the following cost functions:TC = 1000 +Q+ 0.002Q2MC = 1 +0.004QMarket price is 31, based on the profit maximization rule, how much is the firm's total revenue« Previous

The total revenue(TR) function in the above problem is- TR=PQTR=31Q Total cost function is given as-…

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Business

Economics

Firms total revenue? Firms total cost? Firms total profit?

Micro Economics For Today

10th Edition

ISBN:9781337613064

Author:Tucker, Irvin B.

Publisher:Tucker, Irvin B.

Chapter8: Perefect Competition

Section: Chapter Questions

Problem 12SQ

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