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Derive an expression for the firms marginal revenue curve b

The Coolidge Corporation is the only producer of a particular type of laser.
The demand curve for its product is
QD= 8,300 - 2.1P

and its total cost function is
TC = 2,200 + 480Q + 20Q2

where P is price (in dollars), TC is total cost (in dollars), and Q is monthly output.

a. Derive an expression for the firm's marginal revenue curve.

b. To maximize profit, how many lasers should the firm produce and sell per month?

c. If this number were produced and sold, what would be the firm's monthly profit?

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Solution Preview :

Prepared by a verified Expert

Econometrics: Derive an expression for the firms marginal revenue curve b

Reference No:- TGS0573153

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Reference No:- TGS0573153

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