A Milton company works in perfect competition market, its total cost curve in short run is given in this function: TC = 200 − 4Q + 0.5Q 2 a. What output level should the firm produce to maximize profit? knowing that average revenue is $10. b. What is the firm profit at this level of output?
A Milton company works in perfect competition market, its total cost curve in short run is given in this function: TC = 200 − 4Q + 0.5Q 2 a. What output level should the firm produce to maximize profit? knowing that average revenue is $10. b. What is the firm profit at this level of output?
Microeconomics A Contemporary Intro
10th Edition
ISBN:9781285635101
Author:MCEACHERN
Publisher:MCEACHERN
Chapter8: An Introduction To Perfect Competition
Section: Chapter Questions
Problem 4QFR
Related questions
Question
A Milton company works in
given in this function:
TC = 200 − 4Q + 0.5Q
2
a. What output level should the firm produce to maximize profit? knowing that average
revenue is $10.
b. What is the firm profit at this level of output?
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