3. SupPose * firm in ä competitive marhet-Fäces the f0llowing re venue and costFunctionTR= 12 Ind+ 208h 4 S03 Determine the icuel n4 out Putwhich maXi mile Profitb, Detcrmine the Price ievelO whot s moximum Profit thot theFirm I chieves ?

This question asked us to a) determine the level of output that maximizes profit. b) Find the price…

Suppose & firm in a competitive market_ faces the following revenue and cost Function Th=121 and Tc: 1 - 9 38³ 20² +200 450 + 3) Determine the level of out Put which maximise Profit b, Determine the price level what is maximum profit that the Firm Ichieves ?

Suppose & firm in a competitive market_ faces the following revenue and cost Function Th=121 and Tc: 1 - 9 38³ 20² +200 450 + 3) Determine the level of out Put which maximise Profit b, Determine the price level what is maximum profit that the Firm Ichieves ?

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

3. SupPose * firm in ä competitive marhet-
Fäces the f0llowing re venue and cost
Function
TR= 12 Ind
+ 208h 4 S0
3 Determine the icuel n4 out Put
which maXi mile Profit
b, Detcrmine the Price ievel
O whot s moximum Profit thot the
Firm I chieves ?

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