3. Assume a firm is facing the market demand curve: q = 100-2p, its total cost function is: c(q) = 2q². a. What is the firm's marginal revenue? b. What is the firm's marginal cost? c. What is the output level "q" when the firm is maximizing its profit? d. What is the firm's maximum profit?

3. Assume a firm is facing the market demand curve: q = 100-2p, its total cost function is: c(q) = 2q². a. What is the firm's marginal revenue? b. What is the firm's marginal cost? c. What is the output level "q" when the firm is maximizing its profit? d. What is the firm's maximum profit?

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

3. Assume a firm is facing the market demand curve: q = 100-2p, its total cost
function is: c(q) = 2q?.
a. What is the firm's marginal revenue?
b. What is the firm's marginal cost?
c. What is the output level "q" when the firm is maximizing its profit?
d. What is the firm's maximum profit?

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