Saturday

January 31, 2015

January 31, 2015

Posted by **Jen** on Thursday, November 30, 2006 at 8:43am.

Average Cost 5Q + 40 +10/Q

Calculate the firm's total cost function

Find the marginal cost function and evaluate it at Q=2 and Q=3

What is the total revenue function

Find the firms's revenue maximising output level

Find the firm's profit function

Take a shot. What do you think the firm's cost and revenue functions are?

I thought maybe you could say the cost is 5Q + 40 + 10 but only on the basis that the average cost is divided by Q

My problem is I don;t understand the relationship between all the functions so no idea how to find the revenue function

**Answer this Question**

**Related Questions**

Econ - A firm faces the following Average Cost function AC=1500Q^-1 + 300-27Q+1....

Microeconomics - A perfectly competitive industry has a large number of ...

econ - The economist for the Grand Corporation has estimated the company’s cost...

home economics - The economist for the Grand Corporation has estimated the ...

math - Let the total cost function C(x) be defined as follows. C(x) = 0.0008x3...

economics - HELP!!!!! One and only Inc is a monopolist. The demand function for ...

math - The weekly demand for the Pulsar 25 color LED television is represented ...

math - The weekly demand for the Pulsar 25 color LED television is represented ...

Microeconomics - A monopoly firm is faced with the following demand function P...

math - Find the average cost function C associated with the following total cost...