February 23, 2017

Homework Help: engineering

Posted by vimal on Friday, October 8, 2010 at 5:29am.

Given a firm’s demand function, P = 24 - 0.5Q and the average cost function, AC = Q2 – 8Q + 36 + 3/Q, calculate the level of output Q which a) maximizes total revenue b) maximizes profits

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