Solve d) • Demand: P = 100-20. Fixed cost = 100• Marginal cost= 20a. Calculate the following:i. The marginal revenue curve: MR =Incorrectiii. The profit-maximizing price: P* = S100-4g60ii. The level of output where MR = MC: Q* =iv. Total revenue at Q*: TR=S2475Incorrect20

Total revenue is the product of price and quantity. Profit is the difference between total revenue…

Answered: iv. Total revenue at Q*: TR=S 2475…

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Economics

iv. Total revenue at Q*: TR=S 2475 Incorrect

Economics:

10th Edition

ISBN:9781285859460

Author:BOYES, William

Publisher:BOYES, William

Chapter23: Profit Maximization

Section: Chapter Questions

Problem 11E

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Question

Solve d)

• Demand: P = 100-20
. Fixed cost = 100
• Marginal cost= 20
a. Calculate the following:
i. The marginal revenue curve: MR =
Incorrect
iii. The profit-maximizing price: P* = S
100-4g
60
ii. The level of output where MR = MC: Q* =
iv. Total revenue at Q*: TR=S
2475
Incorrect
20

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