What price-output combination is total profit maximized

Reference no: EM133326054

Problem: Presto Products, Inc., recently introduced an innovative new frozen dessert maker with the
following revenue and cost relations:
P = $1800 - 0.006Q; TC = $ 121,00,000 + $800Q + 0.0004Q2

A. Set up a spreadsheet for output (Q), price (P), total revenue (TR), marginal revenue (MR), total cost (TC), marginal cost (MC), total profit (π), and marginal profit (Mπ). Establish a range for Q from 0 to 10,000 in increments of 1,000 (i.e., 0, 1,000, 2,000, ..., 10,000).

B. At what price-output combination is total profit maximized? At what price-output combination is total revenue maximized?

Reference no: EM133326054

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