Demand function implies that firm marginal revenue function

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 A firm is considering entering a market where demand for its product is Q = 100 - P. This demand function implies that the firm's marginal revenue function is MR = 100 - 2Q. The firm's total cost of producing the product for that market is TC = 1000 + 20Q + Q^2 which indicates that its marginal cost function is MC = 20 + 2Q. Calculate the firm's profit and hence indicate whether or not the firm should enter the market. Also represent your findings on an appropriate graph. 

Reference no: EM131094428

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