What is the profit maximizing price and quantity

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Reference no: EM13896854

TR = 1000 - 0.5Q^2 (total Revenue) MR = Marginal Revenue

TC = 24,000 + 400Q + 0.4Q^2 (Total Cost) MC = Marginal Cost AC = Average Cost

Set up a table oe spreadsheet for output (Q) price (P) total revenue(TR),marginal revenue (MR) total cost (TC marginal cost (MC) average cost (AC) profit (P). Establish a range for Q from 0 to 1000 in increments of 100 (i.e, 0, 100, 200....1000).

What is the profit maximizing price and quantity? Explain how you arrived at your answers?

Reference no: EM13896854

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