Calculate the maximum profit, price and quantity

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Reference no: EM1372054

The manufacturer of high quality flatbed scanners is trying to decide what price to set for its product. The cost of production and the demand for the product are assumed to be as follows:

TC = 10,000 + 100Q + 0.02Q^2

Qd =20,000 - 100 P

a) Algebraically calculate the short-run profit maximizing price and quantity.

b) algebraically calculate the maximum profit accruable to the firm.

c) Estimate algebraically the maximum revenue accruable to the firm

 

Reference no: EM1372054

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