Find out the maximum revenue

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Reference no: EM13113805

1.If demand function for a commodity is given by the ecuation p^2+4q-1600 and the supply function is given by the ecuation 300-p^2+2q=0.
Find the equilibrium quantity and equilibrium price.

2.If the supply function for a commodity is p=q^2+8q+16 and the demand function is p=-3q^2+6q+436 find

a) The equilibriun quantity

b) equilibrium price.

3. Supose a company has fixed costs of $28,000 and variable costs 2/5x+222 dollars per unit, where x is te total number of units produced.

Suppose further that the selling price of its product is 1,250-3/5x dollar per unit.

a) Find the maximum revenue.

b) Form the profit function from the cost and revenue function and find maximum profit.

c) What price will maximize the profit

Reference no: EM13113805

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