Question:
A firm in an oligopolistic industry has the following demand and total cost equations
P = 600 - 20Q
TC = 700 + 160Q + 15Q squared
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 $850
F. Maximum revenue at which profit will be at least $580