A firm in an oligopolistic industry has the following demand and total cost equations:
P = 600 - 20Q
TC = 700 + 160Q + 15Q^2
Calculate:
a. quantity at which profit is maximized.
b. maximum profit.
c. quantity at which revenue is maximized.
d. maximum revenue.
e. maximum quantity at which profit will be at least $580.
f. maximum revenue at which profit will be at least $580.