Question a firm faces the demand schedule p 200

Economics

Question: A firm faces the demand schedule p = 200 - 2q and the total cost function

TC = 2q³ - 14q² + 222q + 50
3

Derive expressions for the following functions and find out whether they have maximum or minimum points. If they do, say what value of q this occurs at and calculate the actual value of the function at this output.

(a) Marginal cost

(b) Average variable cost

(d) Total revenue

(e) Marginal revenue

(f) Profit

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Macroeconomics, Economics

Category:- Macroeconomics
Reference No.:- M92290956

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