economics managerial

total revenue equation TR = 5000Q – 5Q2 and total cost equation C = 500 + 3Q2 Calculate this firm’s profit maximizing price, quantity, total revenue, total cost, and total

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asked by Jhon
  1. Profit maximizing can be achieved using this formula MC=MR.

    Differentiate TR to get MR= 5000-10Q
    Differentiate TC to get MC=6Q

    5000-10Q=6Q >> Q=312.50

    Use the Q to get TR and TC.

    To find total profit= TR-TC.

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    posted by Samuel

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