Answer to Question #101378 in Microeconomics for TITUS PISU

Question

1. if a firm revenue course function is given as R=250Q + 3Q2
C= 150 - 5Q derive the maximization output and profit acqiured to the firm.
2. supposed a firm has the following information, the course of machinery factory plant amounted to 50,000. if it variable function is given below; 20x - 3x2 and price per eggs is given as 250 - 15x. what is the profit function of the firm?

Answer 1

Question 1

The maximization output is 3qᶺ2+255q-150

Maximization quantity (Q) 0.67

Profit at the maximization point 15.05$

Question 2

Profit function from Total revenue and total cost function for the company (TR-TC)

TR=250X-15Xᶺ2

TC=-3Xᶺ2+201+50,000

Thus, Profit function

-18xᶺ2+270x+50,000