Samsung is a leading global provider of information and communications technology (ICT) infrastructure and smart phones....

 

Transcribed Image Text:

Samsung is a leading global provider of information and communications technology (ICT) infrastructure and smart phones. Suppose the firms total revenue (TR) and total cost (TC) functions are as given below. TR(Q) = PQ (P = M18) TC(Q): = 6 + 33Q - 9Q² + Q³ a) Derive the profit function. (5 marks) b) The firm's quantity and total revenues for each quantity is given below. Calculate the total cost (TC) and profit (n) for the quantities stated below. (15 marks) Ơo-Nm tin 0 1 2 4 5 6 TR 0 18 36 54 72 90 108 TC C c) Construct a revenue graph and establish the level of output Q that maximizes profit and the level of output that minimizes profit. (10 marks) Samsung is a leading global provider of information and communications technology (ICT) infrastructure and smart phones. Suppose the firms total revenue (TR) and total cost (TC) functions are as given below. TR(Q) = PQ (P = M18) TC(Q): = 6 + 33Q - 9Q² + Q³ a) Derive the profit function. (5 marks) b) The firm's quantity and total revenues for each quantity is given below. Calculate the total cost (TC) and profit (n) for the quantities stated below. (15 marks) Ơo-Nm tin 0 1 2 4 5 6 TR 0 18 36 54 72 90 108 TC C c) Construct a revenue graph and establish the level of output Q that maximizes profit and the level of output that minimizes profit. (10 marks)