Answer to Question #153118 in Economics for Meera jacob

Question

Given below is the TC of a firm
TC=100+50q -12q^2+q^3
Calculate the level of output

Answer 1

$TR=pq$

$MR=p$

$MC=50-24q+3q^2$

$MC=MR$

$3q^2-24q+50-p=0$

$q=4+\frac{\sqrt{3p-6}}{3} or q=4-\frac{\sqrt{3p-6}}{3}$