Demand and cost functions of a firm are defined as P=20-5Q^2/2 C=Q^3-8Q^2+30Q+90 respectively. i. Compute total revenue,

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Demand and cost functions of a firm are defined as P=20-5Q^2/2
C=Q^3-8Q^2+30Q+90 respectively.
i. Compute total revenue, average variable cost, average fixed cost and marginal cost. (5 marks)
ii. Find the profit maximization output.

b) Distinguish between the following terms;
i. Linear and non-linear functions.
ii. Natural numbers and integers.
iii. Subset and set difference.

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Macroeconomics Principles, Applications, and Tools

ISBN: 978-0132555234

7th Edition

Authors: Arthur O Sullivan, Steven M. Sheffrin, Stephen J. Perez

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Posted Date: Apr 03, 2023 02:19 AM

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Demand and cost functions of a firm are defined as P=20-5Q^2/2 C=Q^3-8Q^2+30Q+90 respectively. i. Compute total revenue,

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