Mathematics, 13.01.2021 14:30, makennahudson94
If the fixed costs are 25, variable costs per unit are 2 and the demand function is
P = 20 β Q
(a) Obtain an expression for profit in terms of Q and plot it on a graph.
(15 Marks)
(b) Find the levels of output which give a profit of 31.
(10 Marks)
(c) Find the maximum profit and the value of Q at which it is achieved.
Answers: 3
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If the fixed costs are 25, variable costs per unit are 2 and the demand function is
P = 20 β Q
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