Statistics Solutions

[Solution Library] A firm's total-revenue and total-cost functions are TR=4Q , TC=0.04Q^3-0.9Q^2+10Q+5 , Determine the best level of output. Determine the total

Question: A firm's total-revenue and total-cost functions are

\(\begin{aligned} & TR=4Q \\ & TC=0.04{{Q}^{3}}-0.9{{Q}^{2}}+10Q+5 \\ \end{aligned}\)
  1. Determine the best level of output.
  2. Determine the total profit of the firm at its best level of output.

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Solution: The downloadable solution consists of 1 pages
Deliverable: Word Document


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