Firm''s profit function, Econometrics

Assignment Help:

A  firm manufactures  and  sells  a  product  that  has  the  following  demand function:
 
   
Q = 180 - 4P
 
where P  is price, Q  is quantity.  It also  faces  the  following  total cost  (TC) function:

 TC =0.033Q2 + 15Q+150
 
where Q is quantity produced.
 
    
(i)  Determine the firm's profit function.

(ii)  Using your profit function measured in part (i) find the level of output where the firm maximises its profit.


Related Discussions:- Firm''s profit function

Ramdom variable, let y denote the number of "heads" that occur when two coi...

let y denote the number of "heads" that occur when two coins are tossed

Monopsony, advantages and disadvantages

advantages and disadvantages

#title.monopoly, suppose only one professor teaches economics at your unive...

suppose only one professor teaches economics at your university, would you say that this prof is a monopolist who can exact any price from students in the form of readings assigned

Vecm granger causality block exogenity wald test, please provide literature...

please provide literature on vecm granger causality block exogenity wald test and also tell how to interpret results

Distributed lag model, how run ditributed lag model and how select lag leng...

how run ditributed lag model and how select lag length?

Economic development, what are factors contributing to the long run trend i...

what are factors contributing to the long run trend interms of trade of developing countries?

Calculate the percentage and test the hypothesis, Consider an equation to e...

Consider an equation to explain salaries of CEOs in terms of annual firm sales, return on equity (ROE, in percent form), and return on the firm's stock (ROS, in percent form): L

Material handling system, what factors affect the choice of material handli...

what factors affect the choice of material handling systems

Explain the term volatility clustering, Problem: (a) Write down the equ...

Problem: (a) Write down the equation for symmetric GARCH and clearly explain its components. (b) Explain the term ‘volatility clustering'. (c) How would you model leverag

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd