Question: A firm's demand function is Q = 16 - P and its total cost function is defined as TC = 3 + Q + 0.25

A firm's demand function is Q = 16 - P and its total cost function is defined as TC = 3 + Q + 0.25Q². Use these two functions to form the firm's profit function and then determine the level of output that yields the profit maximum. What is the level of profit at the optimum?

P= 39-0.6Q

C=50+0.1Q^3

Quantity - 9.575835

Price - 33.2545

Revenue - 318.4396

Cost - 137.8072

Profit - 180.6324

Marg Revenue - 27.509

Marg Cost 27.50898

Marg Profit 1.37E-05

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