Question: TR - TC = (120*Q - .10*Q 2 ) - (20*Q 1.5 ).What is profit when the profit maximizing Q is chosen

TR - TC = (120*Q - .10*Q2) - (20*Q1.5).What is profit when the profit maximizing Q is chosen

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Economics Questions!

Q:

= TR - TC = (120*Q - .10*Q 2 ) - (20*Q 1.5 ).What is profit when the profit maximizing Q is chosen

Q:

11. Profit maximization using total cost and total revenue curves Suppose Madison operates a handicraft pop-up retail shop that sells phone cases. Assume a perfectly competitive market structure for...

Q:

QUESTION 3 A perfectly competitive firm, XYZ Bhd estimates its total cost (TC) function to be: TC = 2000 + 10Q + 0.02Q2 The market price of its product is RM20 a) Find the firm's profit maximizing...

Q:

Answer all of the following questions completely. Using the PPC table below, calculate the opportunity cost of producing one more of one good in terms of the other (as asked below), between each...

Q:

Due Sunday, 11/20: Problems from Zimmerman text: 2-11, 2-44, Case 2-3, 7-7, and 7-20 Chapter Two The Nature of Costs Chapter Outline A. Opportunity Costs 1. Characteristics of Opportunity Costs 2....

Q:

C. State the equation of the marginal revenue curve. Briefly explain. Graph the MR curve in the firm diagram above. d. i. Calculate, and show your work, the equation of the marginal cost curve and...

Q:

Question 4 (20 minutes) The province wishes to improve our environment and accordingly will subsidise your municipality $ 2 for every $1 you spend on sewage facilities up to a maximum of $ 1920. Your...

Q:

You are operating a firm in a perfectly competitive market. In the short run, you have fixed costs of $30. Your variable costs are given in the following table: Q TVC 0 10 70 120 3 150 4 190 15 270 6...

Q:

Suppose Neha runs a small business that manufactures shirts. Assume that the market for shirts is a competitive market, and the market price is $25 per shirt. The following graph shows Neha's total...

Q:

Hello, please help with my homework. At the last portion the first drop-down option is == greater or less Second drop-down option is == greater or less The third and fourth are added in the pictures....

Q:

An analyst tested the null hypothesis 30 against the alternative hypothesis that < 30. The analyst reported a p-value of 0.07. For what significance level of will the null hypothesis would be...

Q:

What organizational alternative is suggested by each of the illustrations in Figure 17.24? Figure 17.24 Diagram for Problem 18.9 (b) (d) (a) (c)

Q:

If bonds are issued at a prernium. the stated interest rate is ( 7 yts ) higher than the market rate of interest. too low to attract irvestors. fower than the market fate of interest. adjusted to a...

Q:

Identify a true statement about network effects. O a. It is the cumulative effect produced when one firm enters an industry and makes a profit which triggers other firms to enter the same industry. O...

Q:

5. What do we mean when we say that social facts are mental constructions? Explain this with an example from your own everyday life.

Q:

4. What is meant by the following statement, What we take for granted in a social situation may actually prove to be mechanisms that govern how we evaluate and act in the situation?

Q:

6. What is meant by the following statement, the methods used to uncover (construct) reality guide our thinking and actions in relation to this reality?