A firm has the following total-cost and demand functions: C=Q³-7Q² +111Q+50 Q = 100 - P (a) Does the total-cost function satisfy the coefficient restrictions of (9.5)? (b) Write out the total-revenue function R in terms of Q. (c) Formulate the total-profit function in terms of Q.

A firm has the following total-cost and demand functions: C=Q³-7Q² +111Q+50 Q = 100 - P (a) Does the total-cost function satisfy the coefficient restrictions of (9.5)? (b) Write out the total-revenue function R in terms of Q. (c) Formulate the total-profit function in terms of Q.

ENGR.ECONOMIC ANALYSIS

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ISBN:9780190931919

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Chapter1: Making Economics Decisions

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PLEASE SHOW ALL WORK. THANK YOU

3. A firm has the following total-cost and demand functions:
C = Q³ - 7 Q² +111Q+50
Q = 100 - P
(a) Does the total-cost function satisfy the coefficient restrictions of (9.5)?
(b) Write out the total-revenue function R in terms of Q.
(c) Formulate the total-profit function in terms of Q.
(d) Find the profit-maximizing level of output Q*.
(e) What is the maximum profit?

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