Purchase Solution

Total Profit Maximization

Not what you're looking for?

Ask Custom Question

I'm having problems figuring out how to graph the attached problem. I know it must include product transformation curves, with total cost points, as well as total revenue lines. I'm just very confused about how to even get started. I need some guidance.

Purchase this Solution

Solution Summary

Total Profit Maximization is achieved for Dairy Farm Company.

Solution Preview

Profit = Revenue - TC = PA * A + PB * B - TC
Where PA = 0.50 and PB = 1
By using the TC = 90 table, Profit = 0.5A + 1B - 90

We then ...

Purchase this Solution


Free BrainMass Quizzes
Pricing Strategies

Discussion about various pricing techniques of profit-seeking firms.

Economics, Basic Concepts, Demand-Supply-Equilibrium

The quiz tests the basic concepts of demand, supply, and equilibrium in a free market.

Elementary Microeconomics

This quiz reviews the basic concept of supply and demand analysis.

Economic Issues and Concepts

This quiz provides a review of the basic microeconomic concepts. Students can test their understanding of major economic issues.

Basics of Economics

Quiz will help you to review some basics of microeconomics and macroeconomics which are often not understood.