Demand function-total cost function


A firm has a demand function and a total cost function as follows: P=$5,000-$3Q

:TC = $3000,000 + $1,000Q + $2Q^2

Compute the optimal output and price. Assuming:

The firm is maximizing total profit.

The firm is maximizing total revenue.

Request for Solution File

Ask an Expert for Answer!!
Microeconomics: Demand function-total cost function
Reference No:- TGS037547

Expected delivery within 24 Hours