question archive Given the following total-revenue and total cost functions of a firm
Given the following total-revenue and total cost functions of a firm
Subject:EconomicsPrice: Bought3
Given the following total-revenue and total cost functions of a firm.
TR = 22Q-0.5Q2
TC=1/3 Q3-8.5Q2 +50Q +90 Where, TR Total revenue TC Total cost Q Quantity of output Determine the level of output at which the firm maximises its total profit. ?. b. Determine the maximum profit that the firm could earn.
