Calculate output-price-total revenue and total profit

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Reference no: EM1371316

Q. P = $130 - $0.000125Q
MR - $130 - 0.00025
Fixed development cost = $600,000
Marginal costs are $63 per unit.
Calculate output, price, total revenue and total profit at revenue maximizing activity level and n at profit maximizing level (present each with relevant diagrams).

Q. reason government has to step in and "internalize" benefit and cost externalities are because people are basically selfish. Do you agree?

Reference no: EM1371316

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