(Answered) The total profit of a firm is given byprofit total revenue

Economics

The total profit of a firm is given by

Profit = Total Revenue – Total Cost

Suppose that Total Revenue = 100Q and Total Cost = 30 + 50Q where Q, the quantity sold, is a random variable with expected value 20 and variance 4.

What is the standard deviation of total profit?

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Microeconomics, Economics

Category:- Microeconomics
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