Given the total revenue and the total cost function in # 18, the corresponding marginal revenue is computed as MR = 78 – 4Q, while the marginal cost is MC = 2, find the optimal level of output that maximizes profits where MR = MC A. Q = 18 B. Q = 19 C. Q = 20 D. Q = 21 E. No correct answer

Given the total revenue and the total cost function in # 18, the corresponding marginal revenue is computed as MR = 78 – 4Q, while the marginal cost is MC = 2, find the optimal level of output that maximizes profits where MR = MC A. Q = 18 B. Q = 19 C. Q = 20 D. Q = 21 E. No correct answer

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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