Calculate output level-price that maximizes total revenue, Microeconomics

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Calculate output level-price that maximizes total revenue

Company XYZ has the following demand function

P= 100 - 0.0002Q

Its marginal revenue function was
MR = 100 - 0.004Q

a. Find the firm's Total Revenue Function
b. Calculate the output level and price that maximizes total revenue.
c. Calculate the amount of revenues in dollars.

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Microeconomics: Calculate output level-price that maximizes total revenue

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Request for Solution File

Ask an Expert for Answer!!

Microeconomics: Calculate output level-price that maximizes total revenue

Reference No:- TGS049699

Have a Question? (oR Write a Review)

Recent Questions Asked Microeconomics

Q : Explain increased compensation due to higher risk

Q : Calculate the profit maximizing output of each firm

Q : How large must each of the 5 payments be

Q : What total amount will janeen pay on march 9, 2011

Q : Calculate output level-price that maximizes total revenue

Q : Determine the expected value of the firm

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Request for Solution File

Ask an Expert for Answer!!

Microeconomics: Calculate output level-price that maximizes total revenue

Reference No:- TGS049699

Recent Questions Asked Microeconomics

Q : Explain increased compensation due to higher risk

Q : Calculate the profit maximizing output of each firm

Q : How large must each of the 5 payments be

Q : What total amount will janeen pay on march 9, 2011

Q : Calculate output level-price that maximizes total revenue

Q : Determine the expected value of the firm

Q : Deductible on an individual income tax return problem

Q : Explain expenditures on garbage control-less expenditures

Q : Determining the level of pretax cost savings

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