Question: Given the equations: P = 510 - 3Q TC = 300 + 30Q + 0.2Q 2 Where P = price Q = quantity TC =

Given the equations:

P = 510 - 3Q

TC = 300 + 30Q + 0.2Q2

Where P = price

Q = quantity

TC = total cost

  1. Marginal revenue (MR) is computed as

A. MR = 210 - 3Q

C. MR = 510 - 3Q

B. MR = 210 - 6Q

D. MR = 510 - 6Q

  1. Marginal cost (MC) is computed as

A. MC = 30 + 0.2Q

C. MC = 30 + 0.4Q

B. MC = 330 + 0.4Q

D. MC = 330 + 0.2Q

  1. The maximum profit, given these two equations, is

A. 21,375

C. 13,675

B. 17,700

D. 16,200

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