Calculate the level of output to that maximizes total profit

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Reference no: EM13154904

suppose the production of a good is controlled by a single firm. The market demand for the good ischaracterized by the equation Q=250-2p. the total cost of the production is described by the cost function TC=10Q.

derive and graph the equation characterizing the firm's total revenue (TR) curve.

Derive and graph the equation characterizing the firm's marginal revenue.

derive and graph the equation characterizing the firms average revence curve.

Calculate the level of output to that maximizes total profit. Also calculate the resulting profit.

Reference no: EM13154904

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