Economics Homework Solutions
Problem
#83698

Profit Maximization

A firm in oligopolistic industry has the following demand and total cost equations:

P= 600 -20Q
TC = 700 + 160Q + 15Q(squared)

Please Calculate and show calculations

a. quantity at which profit is maximized.
b. maximum profit
c. quantity at which revenue is maximized
d. maximum revenue
e. maximum quantity at which profit will be at least $580
f. maximum revenue at which profit will be at least $580


Solution Summary

Excel file contains calculations of:
a. quantity at which profit is maximized.
b. maximum profit
c. quantity at which revenue is maximized
d. maximum revenue
e. maximum quantity at which profit will be at least $580
f. maximum revenue at which profit will be at least $580

Solution
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