A firm finds that the marginal revenue is given by the expression 20-2q while the marginal...

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A firm finds that the marginal revenue is given by the expression 20-2q while the marginal cost is given by the expression 4q-10. Its fixed costs are Sh.30. q represents quantities of output produced and sold. Required: Determine the following: a) b) c) d) Total revenue, total cost and hence profit function Profit maximizing i)Output Average total cost at profit maximising output Breakeven output. ii) Price iii) The maximum profit A firm finds that the marginal revenue is given by the expression 20-2q while the marginal cost is given by the expression 4q-10. Its fixed costs are Sh.30. q represents quantities of output produced and sold. Required: Determine the following: a) b) c) d) Total revenue, total cost and hence profit function Profit maximizing i)Output Average total cost at profit maximising output Breakeven output. ii) Price iii) The maximum profit