Post a New Question

Maths

posted by .

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

First Name
School Subject
Your Answer

Related Questions

More Related Questions

Post a New Question