A firm has the following total-cost and demand functions:
C=1/3Q^3 - 7Q^2 + 111Q +50
a) Does the total-cost function satisfy the coefficient restrictions of (9.5 [a, c, d > 0 ; b<0 ; b^2<3ac])
b) Write out the total-revenue function R in terms of Q
c) Formulate the total-profit function (pie) in terms of Q
d) Find the profit-maximizing level of output Q*
e) What is maximum profit?
can you answer please? watch
- Thread Starter
- 06-11-2017 13:21
- 06-11-2017 22:46
Seeing as you haven't tried anything, I'm guessing you just want answers to hand in rather than help. Try googling it. The whole solution has been posted.