Question: solve question 8 #. (a) Derive the TR function for firms facing the following demand functions I. Q@=32-4P l. Q@=BP +425 (b) Both firms have

solve question 8

#. (a) Derive the TR function for firms facing the following demand functions I. Q@=32-4P l. Q@=BP +425 (b) Both firms have a fixed cost of $40 and an additional cost of $2 to produce each unit. Determine the Profit Function (1) for each firm. (c) what are the breakeven quantities for each firm. (d) What is the Average Cost (AC) for each firm at the breakeven quantities? (e) Sketch the graph of the profit function for each firm. Show clearly the breakeven points and the maximum profit

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