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A firm has the total cost function and the market demand function given by: TC(Q) 2Q3 – 20+5Q+500 P = 120 - 30 (i) Specify the total revenue function, TR(Q). (ii) Find the value of Q that generates

A firm has the total cost function and the market demand function given by: TC(Q) 2Q3 – 20+5Q+500 P = 120 - 30 (i) Specify the total revenue function, TR(Q). (ii) Find the value of Q that generates maximum total revenue. (iii) Specify the marginal cost and the marginal revenue functions: MC(Q) and MR(Q). (iv) Solve the equality MCQ) = MR(Q) for Q.

4. (40) A firm has the total cost function and the market demand function given by: TC(Q) 2Q3 – 20+5Q+500 P = 120 - 30 (i) Sp

May 10 2021 View more View Less

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