Homework Answers
The answer is "-110 $"
Total Revenue when no of clients are 2 = Marginal Revenue 1 + Marginal Revenue 2
= 100 + 90 = 190 $
Total Cost when No of clients are 2 = MC1 + MC2
= 200 + 100 = 300 $
Profit = Total Revenue - Total cost
= 190 - 300 = -110 $
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each firm? The answer should be 737.50.
10.3 MARGINAL REVENUE, MARGINAL COST, AND PROFIT MAXIMIZATION Profit Example 1: Solve by using the slope of the profit function For P=120: Profit: re(q) = 1207-200-6q2 Find q* such that slope of profit function is zero. 209 (q) Slope of r(q) is dr(q) = 120-129 -200 da dr(Q) - 0 Solve for q* such that da 120 – 12q=0 120=129 q* =10 At q*=10, firm's profit is...
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Like for correct answer
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