A firm in a oligopolistic industry has the following demand and total cost equations:
P= 600 - 20Q and TC= 700 + 160Q + 15Q2
Calculate:
Hint: Derivation is possible
a. Quantity at which profit is maximized.
b. Maximum profit.
c. Quantity at which revenue is maximized.
d. Maximum revenue.
e. Maximum quantity at which profit will be at least $580.
f. Maximum revenue at which profit will be at least $580.