Discuss the below:
Q1. Given the following revenue and cost function for a business firm, calculate the break-even quantity, total revenue, total cost and total profit at break-even level of production.
revenue function R = F(Q) = 4q
total cost C = F(Q) = 12 + 2q
Q2. Given the following revenue and cost function for a business firm, calculate the break-even quantity, total revenue, total cost and total profit at break-even level of production.
total revenue R = f(q) = 30q
total cost C = 100 + 5q + q squared
a. Find the first derivative using the limits formula [dy/dx lim x-0]
b. Calculate the maximum profit at the profit maximization level of production