Project #30366 - Economics

A firm has a monopoly to produce a product with the demand equation of Q = 15,000 – 10P, where Q is the annual demand and P is the price per unit.  The firm’s total cost function is C = 1,400,000 + 300Q + 0.05Q^2. 

 

a.    At what production quantity will yield maximum profit and at what price?

 

b.    Compute the firm’s total profit.

 

Subject Business
Due By (Pacific Time) 05/10/2014 12:00 am
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