Question: Assume that firm VYZ ' s cost function is given by C ( q ) = 1 0 0 + 4 q 2 where q
Assume that firm VYZs cost function is given by where is the level of output and is total cost. Please answer the following question in accordance.
If total revenue of the firm is simply the price multiplied by the quantity of output and the price of one unit of output is liras. Please write down the profit function for the firm and calculate the profit maximizing level of output ptHint: marginal revenue equals to marginal cost.j
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