Tuesday
May 26, 2015

Homework Help: microeconomics

Posted by Emma on Thursday, November 25, 2010 at 6:04am.

The marketing division of a firm has measured demand for its product and reports that it is Q = 24 P, where Q is units and P is price per unit in dollars. The cost is given in the table below. Complete the table and determine the profit-maximizing level of output for this firm.
Output Total Cost Price per unit Revenue Profit
0 10
1 18
2 20
3 22
4 25
5 29
6 34
7 40
8 48

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