Show that TR is a maximum when q is 18 for the non-linear demand schedule.
p = 194.4 − 0.2q²
mum levels?
A firm faces the demand schedule p = 190 − 0.6Q and the total cost function TC = 40 + 30Q + 0.4Q² . (a) What output will maximize profit? (b) What output will maximize total revenue? (c) What will the output be if the firm makes a profit of £4,760?
Find the output where profit be maximized for a firm with the total revenue and total cost functions
TR = 52Q − Q²
TC = 0.33Q³ -2.5Q² +34Q +4
Find whether any stationary points exist for the following functions for positive values of q, and say whether or not the stationary points are at the minimum values of the function.
AC = 345.6q−1 + 0.8q²
MC = 30 + 0.4q²
TC = 15 + 27q − 9q² + q³