Write out the firm''s total revenue as a function of q

Question

Problem

Suppose that American Borax is a monopolist and that the worldwide demand for borax is Q = 100 - P where Q is tons of borax and P is the price per ton. The total cost function for American Borax is TC = 10Q + 0.5 Q² .

a. Write out the firm's total revenue as a function of Q.

b. What is the profit function for American Borax?

c. Find the firm's profit-maximizing quantity by applying calculus to the profit function.

d. Find American Borax's profit-maximizing price and profit.

The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.