QUESTION 2 A firm has the following revenue and cost functions. TR= 90 Q - Q^2 TC=2Q^2 + 30Q Determine the quantity level at which the firm maximizes its total profit.(Hint: use marginal revenue=marginal cost rule)

QUESTION 2 A firm has the following revenue and cost functions. TR= 90 Q - Q^2 TC=2Q^2 + 30Q Determine the quantity level at which the firm maximizes its total profit.(Hint: use marginal revenue=marginal cost rule)

Survey Of Economics

10th Edition

ISBN:9781337111522

Author:Tucker, Irvin B.

Publisher:Tucker, Irvin B.

Chapter7: Perefect Competition

Section: Chapter Questions

Problem 1SQ

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QUESTION 2

A firm has the following revenue and cost functions.

TR= 90 Q - Q^2

TC=2Q^2 + 30Q

Determine the quantity level at which the firm maximizes its total profit.(Hint: use marginal revenue=marginal cost rule)

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