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© BrainMass Inc. brainmass.com September 24, 2018, 4:08 pm ad1c9bdddf - https://brainmass.com/economics/short-and-long-run-cost-functions/maximum-revenue-329921
The maximum revenue accruable to firm is presented.