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maximum revenue

The manufacturer of high-quality flatbed scanners is trying to decide what price to set for its product. The cost of production and the demand for the product are assumed to be as follows:

TC = 10,000 + 100Q + 0.02Q^2

Qd =20,000 - 100 P

a) Algebraically determine the short-run profit maximizing price and quantity.

b) algebraically determine the maximum profit accruable to the firm.

c) Determine algebraically the maximum revenue accruable to the firm

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Solution Summary

The maximum revenue accruable to firm is presented.