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
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

Given the demand function Qd = 650-5P-P2 where P=10 Find out the price elasticity of demand.

What is the rival principle of distribution? What are the impacts of ethics and morals on the rival principles of distribution?


Derive marginal benefit of reducing principal balances

Suppose that the aggregate demand curve in a particular year is given by the algebraic           expression:  Y = 3000 + 1000/P, where Y is the aggregate output and P is t

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

The textbook states, “Prejudice by itself did not create American slavery.” Examine the forces and events that led to slavery in North America, and the role that racial prejudice p

Choose a share from a market such as LSE, NYSE, NASDAQ, etc. [Data sources could be Datastream, Google Finance or others]. Prepare a report which involves the following aspects:

As in the model solved initially, the following is the LP model Maximize Z = $42.13*(x 11 + x 12 + x 13 + x 14 ) + $38.47*(x 21 + x 22 + x 23 + x 24 ) + $27.87*(x 31 + x