Demand function-total cost function
A firm has a demand function and a total cost function as follows: P=$5,000-$3Q
:TC = $3000,000 + $1,000Q + $2Q^2
Compute the optimal output and price. Assuming:
The firm is maximizing total profit.
The firm is maximizing total revenue.
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A firm has a demand function and a total cost function as follows: P=$5,000-$3QCompute the optimal output and price. Assuming:
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