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Equations for total revenue and marginal revenue

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The demand function for indoor plant pots is given by the equation

P=1600-4Q where P is the price and Q is the quantity. The average cost of producing one indoor plant pot is

AC= 300:Q + 20

(I) Write down the equations for total revenue and marginal revenue

(II)Write down the equations for total cost and marginal cost

(III)Write down the equation for profit

(IV)How many indoor plant pots must be produced and sold to maximize total profit?

(V)Calculate the maximum profit.

Reference no: EM132528946

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