You are the manager of a firm that has an exclusive license to produce your product. The inverse market demand curve is P = 900-1.5Q. Your cost function is C(Q)=2Q+Q^2. Determine the output you should produce, the price you should charge, and your profits.© BrainMass Inc. brainmass.com June 18, 2018, 1:42 pm ad1c9bdddf
Revenue, R(Q) = price * quantity = PQ = (900 - 1.5Q)Q = 900Q - 1.5Q^2
Cost, C(Q) = 2Q + ...
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