Assume demand is given as P $2500-$25Q. The firm has a fixed cost of $3000 and variable costs of $2000 +$1.50 2A. Write out the firm's total revenue equation. B. Determine the Q value(s) where TR 0. Determine the Q value where TR is maximum. C. Write out the firm's total cost function. D. Determine the firm's breakeven point(s)

Assume demand is given as P $2500-$25Q. The firm has a fixed cost of $3000 and variable costs of $2000 +$1.50 2A. Write out the firm's total revenue equation. B. Determine the Q value(s) where TR 0. Determine the Q value where TR is maximum. C. Write out the firm's total cost function. D. Determine the firm's breakeven point(s)

Managerial Economics: Applications, Strategies and Tactics (MindTap Course List)

14th Edition

ISBN:9781305506381

Author:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris

Publisher:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris

Chapter11: Price And Output Determination: Monopoly And Dominant Firms

Section: Chapter Questions

Problem 6E

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