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

Demand function P=50-Q

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

- 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 ...
- Calculus - The price-demand and cost functions for the production of microwaves...
- Calculus - The marginal revenue for x items in dollars is given by R′(x...
- economics - HELP!!!!! One and only Inc is a monopolist. The demand function for ...
- Business Calculus - A company has operating costs of $2000 per thousand items ...
- math - Let the total cost function C(x) be defined as follows. C(x) = 0.0008x3...
- Microeconomics - A perfectly competitive industry has a large number of ...
- Econ - A firm faces the following Average Cost function AC=1500Q^-1 + 300-27Q+1....
- algebra - We did not find results for: suppose a company manufactures MP3 ...