Firm''s profit function, Econometrics

A  firm manufactures  and  sells  a  product  that  has  the  following  demand function:
 
   
Q = 180 - 4P
 
where P  is price, Q  is quantity.  It also  faces  the  following  total cost  (TC) function:

 TC =0.033Q2 + 15Q+150
 
where Q is quantity produced.
 
    
(i)  Determine the firm's profit function.

(ii)  Using your profit function measured in part (i) find the level of output where the firm maximises its profit.

Posted Date: 3/25/2013 5:28:39 AM | Location : United States







Related Discussions:- Firm''s profit function, Assignment Help, Ask Question on Firm''s profit function, Get Answer, Expert's Help, Firm''s profit function Discussions

Write discussion on Firm''s profit function
Your posts are moderated
Related Questions
what is econometrics

if there is multicollinearity so why we can not estimate the value of parameters?


Over the next two years, Susan's income will be $33,000 in the first year and $33,000 in the second year. She can both borrow and lend money at the 10% of annual interest. (a) W

A store is known for is bargains. The store has the habit of lowering the price of its bargains each day, to ensure that articles are sold fast. Assume that you spot an item on Wed

My econometrics assignment is due for monday, August 18th. I''m running out of time and need a help to meet the deadline. I need answers for 4 problems from the basic econometrics.

#question.Suppose that you have 150 observations on production (yt) and investment (it), and you have estimated the following ADL(3,2) model: (1 – 0.5L – 0.1L2 – 0.05L3)yt = 0.7 +

For a multiple regression with three explanatory variables the value of R 2 is 0.75. Indicate whether every of the following statements is true or false and give brief reasons fo

Ask question #are there any welfare or subsidy payment that should be reviewed or added?

demand for tea, Y, are assumed to be affected by income of students, X. A simple linear regres-sion analysis was performed on 20 observations and the results were: Independent vari