Urban water supply has the Average Cost function AC =150/Q, and demand function     Q = 18-4P; Q is quantity of water output, and P is unit price of water.          (i) Obtain the Total Cost and Total Revenue Functions of water utility.          (ii) Find the optimal output (Q*) of water utility.          (iii) Find the optimal price (P*) of water utility.

ENGR.ECONOMIC ANALYSIS
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Chapter1: Making Economics Decisions
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Urban water supply has the Average Cost function AC =150/Q, and demand function

    Q = 18-4P; Q is quantity of water output, and P is unit price of water.

         (i) Obtain the Total Cost and Total Revenue Functions of water utility.

         (ii) Find the optimal output (Q*) of water utility.

         (iii) Find the optimal price (P*) of water utility.

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