If a company's demand function for a machine is p =30 - q and its average cost

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If a company's demand function for a machine is p =30 - q and its average cost function is: AC = q2 - 8q + 45 + 6 Find the value of output which:

1. Maximizes total revenue

2. Determine maximize profit

Related Book For answer-question

Intermediate Microeconomics

ISBN: 978-0393123968

9th edition

Authors: Hal R. Varian

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Posted Date: Aug 21, 2023 07:37 AM

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If a company's demand function for a machine is p =30 - q and its average cost

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To find the value of output that maximizes total revenue and profit we need to understand the relati... View the full answer

Intermediate Microeconomics

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