February 22, 2017

Homework Help: ECONOMICS

Posted by Anonymous on Sunday, October 24, 2010 at 2:11pm.

Q2) 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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