Question: i have inserted the question with photos 35 Q2 Given the demand function, Q + g = ?; and the average cost function, AC =
i have inserted the question with photos


35 Q2 Given the demand function, Q + g = ?; and the average cost function, AC = (BIZ/Q) + 5 where Q is the quantity and p is the price. Find (a) the price function, p(Q) in terms of Q. (1 mark) (b) the revenue function, R(Q) in terms of Q. (3 marks) (c) the cost function, C(Q) in the terms of Q. cost function,C(x) [Hint : Average cost,AC = _ ] (3 marks) quanuty,Q (d) the profit function, P(Q) in terms of Q. (2 marks) (e) the quantity when the firm breaks even. (4 marks) (f) the quantity when the firm makes a loss of 400 units. (5 marks) (g) the quantity when the firm maximizes profit. (2 marks)
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