What is the best price for maximizing profit maximum

Question

Question: 1. What is the best price for :

a. Maximizing profit.

b. Maximum revenue possible.

2.Solve the equation:

Q = 50-0.5p

C = 0.25Q² + 3Q + 5

Find: a. Max profit

b. Max revenue

c. Max price (R.P)

d. Max quantity

e. Minimum Average Cost

f. Optimal Revenue

g. Average fixed cost

h. Variable cost function

i. Average variable cost

j. Average revenue

3.a. Solve the equation:

Q = 120-2p

C = 30 + 10Q +0.2Q²

Find: a. Max profit

b. Max revenue

c. Max price (R.P)

d. Max quantity

e. Break Even

f. Minimum Average Cost

g. Optimal Revenue

Group work - Use excel to compute above equation. This should be completed by each group.