Find the level of output q

Assignment Help Microeconomics
Reference no: EM13843626

Suppose that the total revenue function of a firm is given by TR(q) = 120q - 2q^2, where q is the level of output.

Find the level of output q that will maximize the firm's total revenue. Also, compute the maximum amount of total revenue received by the firm.

Reference no: EM13843626

Questions Cloud

What are the main ideas of the issue or situation : What is the issue/situation I am investigating? What do I already know about the issue/situationand what do I need to find out? What are the main ideas of the issue/situation?
Briefly describe the nature of tpgs advertising : Briefly describe the nature of TPG's advertising which ACCC considered to be defective - what statutory provisions did ACCC allege that TPG's advertising contravened
Describe why you need to be a critical thinker : Write approximately 200 words describing why you need to be a critical thinker.You should refer tostudy, work and personal life.You should include your definitionof the term critical thinking.
What you would like to achieve by studying the course : The email should also describe what you would like to achieve by studying this course and any questions or suggestions you may have about this course. This section should be about 200 words.
Find the level of output q : Find the level of output q that will maximize the firm's total revenue. Also, compute the maximum amount of total revenue received by the firm.
Briefly identify the compliance : Pick an organization from either the eCommerce sector (anyone trading in products or services using the Internet) or the Banking/Finance sector
Develop findings and recommendations for management : develop findings and recommendations for management
Write a visual studio 2012 c# console app : Write a Visual Studio 2012 C# Console App that manages car information
Reflection on social and cultural barriers : Social and Cultural Barriers- Most businesspeople engaged in international trade under-estimate the importance of social and cultural differences, but these differences can derail an important transaction

Reviews

Write a Review

Microeconomics Questions & Answers

  Aggregate demand curve and the aggregate expenditures model

The relationship between the aggregate demand curve and the aggregate expenditures model is derived from the fact that:

  What is the difference in marketing strategy

Pick two similar small businesses in the same industry with which you are familiar, one successful and one not so successful. Describe them in a post, and compare and contrast these businesses. What is the difference in management style between the..

  A key function of the government is market externalities

A key function of the government is market externalities. Compare and contrast the cost externalities and the benefit externalities and provide some examples.

  Fixed or flexible exchange rate system

Decide if you would support a fixed or flexible exchange rate system. Provide support for your response. In the same role of exporter from the first part of this discussion, decide how an appreciating and depreciating currency would affect your compa..

  How much bush era tax cuts on upper income tax payers

Why did president Obama want to repeal the Bush era tax cuts on upper income tax payers How would the repeal of these tax cuts impact aggregate demand and to what degree How did the economic conditions in 2010 make such a repeal less likely to tak..

  Sustained economic growth possible

Changes took place during the Industrial Revolution that made sustained economic growth possible?

  Analysis of quantitative demand

You're a manager at the Chevrolet division of General Motors. If your marketing department estimates that the semiannual demand for the Chevy Tahoe is Q = 100,000 - 1.25P

  First salary negotiation after graduation

Represents the potential outcomes of your first salary negotiation after graduation and does the ability to move first give the employer an advantage?

  Explain cost of various sources of capital including debt

explain cost of various sources of capital including debt preferred stock common stock and retained earnings. also

  What is the opportunity cost of taking this trip

You plan a major adventure trip for the summer. You won’t be able to take your usual summer job that pays $6,000, and you won’t be able to live at home for free. The cost of your travel

  What is the relationship between the mpc and the mps

If consumption increases by $12 billion when real disposable income increases by $15 billion, what is the value of the MPC What is the relationship between the MPC and the MPS If the MPC increases, what must happen to the MPS

  Greatest effects the health care market

What three events through the next three years are going to have the greatest effects the Health Care Market? Speculate on how each of these events will affect both the supply and demand curves for Health Care and the price of Health Care.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd