If total cost function and demand function are as under,
TC = 10,000 + 100Q + 0.02Q^2
Qd =20,000 - 100 P
how do I determine the short-run profit maximizing price and quantity? How do I determine the maximum profit accruable to the firm ?© BrainMass Inc. brainmass.com October 10, 2019, 12:33 am ad1c9bdddf
Marginal cost can be found by differentiating TC with respect to Q.
On rearranging, we ...
Solution depicts the steps to calculate profit maximizing output and price level. It also calculates maximum profit.