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Total revenue and total cost functions

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Nada Adobe corporation is a firm operating in a purely competitive market environment in the short run. Assume that Nada Adobe corporation faces the following total revenue and total cost functions:

Total revenue: TR =8Q

Total cost:  TC= Q2 + 4Q + 2

a. Determine the marginal revenue and the marginal cost

b. Determine Profit function of Q

c. What is the value of Q that maximize the profit.( take the derivative of the profit with respect to Q, set it equal to zero and solve for the profit-maximizing level of Q)

e. What other method we can use to max profit and what is the Q in this case?

Reference no: EM131723332

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