Calculate the total revenue, average revenue, marginal cost, total cost, fixed cost, quantity, price, Profit.
A firm that provides two goods faces the following demands:
P1 = 8 - .02Q1
P2 = 15 - .03Q2
All costs are fixed at $900 and prices in the last period were P1 = $3 and P2 = $8.
Illustrate what were the quantities, revenue, and profit obtained in the previous period?