Calculate output and price at revenue maximizing activity

Reference no: EM13208912

Commercial Recording, Inc., is a manufacturer and distributor of reel-to-reel recording decks for commercial recording studios. Revenue and cost relations are: TR = $3,000Q - $0.5Q2 MR = $3,000 - $1Q TC = $100,000 + $1,500Q + $0.1Q2 MC = $1,500 + $0.2Q

a. Calculate output, price, and profit at the profit maximizing activity level.

b. Calculate output and price at the revenue maximizing activity level.

Reference no: EM13208912

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