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Find the profit maximizing output level for firm

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Reference no: EM132603565

Suppose that the total cost function of a firm is given as follows;

TC = 10,000 + 2Q2

(Q2=Q squared)

And the price of the firm's product is determined by the market equilibrium at $400.

a. Find the profit maximizing output level for this firm.

b. What is the total revenue?

c. What is the total cost?

d. What is the fixed cost

e. What is the profit earned by the firm?

f. Does the firm function in short-run or long-run? Why?

Reference no: EM132603565

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