Chapter 6 Elasticity - Oklahoma City Community College

A firms demand function for a good is given by P = 107-2Q and their total cost function is given by TC = 200+3Q . Obtain an expression for total revenue profit in terms of Q. Total Revenue = P.Q. TR = (107-2Q)*Q = 107Q-2Q2 . Profit = TR-TC. Profit = 107Q-2Q2-200-3Q = -2Q2+104Q-200. For what values of Q does the firm break even. Firm breaks even ... ................
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