Maximum profit that firm can generate at output level, Macroeconomics

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Maximum profit that firm can generate at output level

The following is a demand function that has been estimated for a monopolistically competitive firm.

Q = 320 - 2P

If the firm's TVC function is

TVC = 40Q - 1.5Q2 +1/3 Q3

Total fixed cost = $500

a. How much should the firm produce in order to maximize profit?

b. What is the maximum profit that the firm can generate at the output level(your answer in a)?

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Macroeconomics: Maximum profit that firm can generate at output level

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Macroeconomics: Maximum profit that firm can generate at output level

Reference No:- TGS069659

Have a Question? (oR Write a Review)

Recent Questions Asked Macroeconomics

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Macroeconomics: Maximum profit that firm can generate at output level

Reference No:- TGS069659

Recent Questions Asked Macroeconomics

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Q : Budgeted sales revenue for the third quarter

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