A farmer may sell his produce in two different markets; the demand functions for the two
markets are P = 100/(Q + 1) and P = 100 – Q^2
.
(a) Graph both demand functions over the interval Q = 0 to Q = 14; comment on the revenue from the two markets.
(b) Calculate the total revenue received from (i) the sale of the first 10 units in each market and (ii) the sale of units 8 to 12 inclusive.

2nd case. If a firm faces the marginal cost schedule MC = 180 + 0.3q^2
and the marginal revenue
schedule MR = 540 − 0.6q^2
and total fixed costs are 65,
what is the maximum profit it can make?

Answer rating: 100% (QA)

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