Answered: Q (7) If the functions of the total…

Q (7) If the functions of the total revenues and total costs of a particular economic project are as follows: Required: a. Finding the level of production that maximizes total profits.

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

Q (7) If the functions of the total
revenues and total costs of a particular
economic project are as follows:
Required: a. Finding the level of
production that maximizes total profits.
The greatest possible total profits. is
TR = 100Q - Q Te = 0 - 702 + 111Q + 50
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