Find the production to optimise the profit

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1. A firm has the following average cost ????=????????+????-????.

a. Find the stationary point and determine if it is a maximum or a minimum.

b. Find the marginal cost function.

2. A firm has the following demand function ??=????-??.???? and its total cost are defined by ????=????+??.

a. Find the maximum revenue.

b. Find the production to optimise the profit.

c. Verify if that the marginal revenue and marginal cost are the same at the profit maximising production level.

3. From the point of view of the firm, what decisions criteria have been found relevant in the analysis of production and profit.

Reference no: EM133313942

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