Find the revenue and profit function

Reference no: EM133710444

Question: Consider a market where the linear demand for a product is given by p = 20 - =q. The cost to produce q units of this product is given by the function C(q) = 14q + 30.

a) Find the revenue and profit function.

b) Calculate the maximum revenue. What is the profit-maximizing production quantity? What is the amount of revenue obtained at the profit-maximizing quantity level? Calculate the break-even quantity.

Reference no: EM133710444

Questions Cloud

Relationship between unemployment and inflation : Relationship between inflation and unemployment a constant trade-off between inflation and unemployment no particular relationship between unemployment

Components of a coin model that was used first in iraq : Kilcullen's article summarizes the components of a COIN model that was used first in Iraq and later in Afghanistan.

Which client statement indicates need for further teaching : The nurse provides education to client with the diagnosis. Which client statement indicates the need for further teaching related to the concept of metastasis?

Plot the data along with the obtained curve : Plot the data along with the obtained curve above and the line y = x. Using the obtained curve, approximate the income inequality for the given country

Find the revenue and profit function : Calculate the maximum revenue. What is the profit-maximizing production quantity? What is the amount of revenue obtained at the profit-maximizing quantity level

Determine which medication would be most appropriate : Determine which medication would be most appropriate to prescribe from the assigned vulnerable population patient case medication choices.

Would profit be maximized by producing the optimal output : At what level of production would firm profit be maximized? Would profit be maximized by producing the optimal output or the maximum output

What vs data is clinically significant and relevant : The nurse recognizes a potential for fluid volume deficit and obtains orthostatic VS: Supine 103/50 P-110. What VS data is clinically significant and relevant?

Producing the drug for the government : Producing the drug for the government. It is estimated that this strategy will decrease the variable cost of each capsule which is a substantial savings

User Account

All Pages