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find out the total revenue, average revenue, marginal cost, total cost, fixed cost, quantity, price, Profit.

A firm that provides two goods faces the following demands:

P1 = 8 - .02Q1

P2 = 15 - .03Q2

All costs are fixed at $900 and prices in the last period were P1 = $3 and P2 = $8.

Illustrate what were the quantities, revenue, and profit obtained in the previous period?

 

Business Economics, Economics

  • Category:- Business Economics
  • Reference No.:- M918379

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