Is the firm maximizing profits producing

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Reference no: EM131372020

You have the follwoing information for a firm:

TR = 200 Q – Q² MR = 200 – 2 Q

TC = 1000 - 8 Q + Q² MC = - 8 + 2 Q

a. If the firm produces 60 units of output, what are profits or losses for this firm.

b. Is the firm maximizing profits producing Q = 60? If not, what is the profit maximizing level of output produced?

c. Prove that your answer to part b represents the profit msximixing output produced.

d. What are maximum profits?

Reference no: EM131372020

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