An electric power plant uses solid waste as its fuel for generating electricity. The total cost in dollars per hour of producing electricity is TC = 12+0.3D+0.27D2. The utility can sell electricity at a price per hour determined by p=15-0.2D. F5.
Determine the following for this case:
A) What is the profit-maximizing quantity?
B) What is the profit-maximizing price the firm should charge?
C) What is the total revenue at the profit-maximizing price/quantity?
D) What is the total cost at the profit-maximizing price/quantity?
E) What is the profit the firm realizes at the profit-maximizing price/quantity?
F) What is the range of profitable demand?