A firm's total-revenue and total-cost functions are TR=4Q , TC=0.04{Q^3}-0.9{
Question: A firm's total-revenue and total-cost functions are
\(\begin{aligned} & TR=4Q \\ & TC=0.04{{Q}^{3}}-0.9{{Q}^{2}}+10Q+5 \\ \end{aligned}\)(a) Determine the best level of output.
(b) Determine the total profit of the firm at its best level of output.
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Answer: The downloadable solution consists of 2 pages
Solution Format: Word Document
Solution Format: Word Document
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