PQ7.2(a) Case: Average Revenue Demand Curve (AR): P=120 -0.02Q Weekly Production (Q) Price (P) (Cents/Unit) Cost Function (C) = 60Q +25,000 Marginal Cost (MC) = Slope of Total Cost (TC) Curve = 60 Assume: Maximum Profit. Question: What is the Level of Production, Price, and Total Profit per week - assuming Maximum Profit?

PQ7.2(a) Case: Average Revenue Demand Curve (AR): P=120 -0.02Q Weekly Production (Q) Price (P) (Cents/Unit) Cost Function (C) = 60Q +25,000 Marginal Cost (MC) = Slope of Total Cost (TC) Curve = 60 Assume: Maximum Profit. Question: What is the Level of Production, Price, and Total Profit per week - assuming Maximum Profit?

Micro Economics For Today

10th Edition

ISBN:9781337613064

Author:Tucker, Irvin B.

Publisher:Tucker, Irvin B.

Chapter7: Proudction Costs

Section: Chapter Questions

Problem 5SQP

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