Homework Answers
(a) Profit is maximized when MR = MC.
TR = pq = 100q - q2
MR = dTR/dq = 100 - 2q
100 - 2q = 6q + 20
8q = 80
q = 10
(b) p = 100 - 10 = 90.00
(c) Profit = TR - TC
TR = 90 x 10 = 900
TC = 3 x 10 x 10 + 20 x 10 + 600 = 300 + 200 + 600 = 1100
Profit = 900 - 1100 = - 200.00
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