A firms cost and revenue functions look like this in 3 questions below. Total cost: TC = 100 + 2Q + Q2 Marginal cost: MC = 2 + 2Q Price: P=22 What is the profit maximizing output? a. 8 b. 10 c. 12 d. 25 e. All the other answers are wrong. What is the firm's profit? a. -14 b. -6 c. 0 d. 15 e. All then other answers are wrong. What are the fixed costs and variable costs at the profit maximising output? a. FC=0, VC=220 b. FC=100, VC=80 c. FC=80, VC=244 d. FC=100, VC=120 e. All the other answers are wrong.

A firms cost and revenue functions look like this in 3 questions below. Total cost: TC = 100 + 2Q + Q2 Marginal cost: MC = 2 + 2Q Price: P=22 What is the profit maximizing output? a. 8 b. 10 c. 12 d. 25 e. All the other answers are wrong. What is the firm's profit? a. -14 b. -6 c. 0 d. 15 e. All then other answers are wrong. What are the fixed costs and variable costs at the profit maximising output? a. FC=0, VC=220 b. FC=100, VC=80 c. FC=80, VC=244 d. FC=100, VC=120 e. All the other answers are wrong.

Economics:

10th Edition

ISBN:9781285859460

Author:BOYES, William

Publisher:BOYES, William

Chapter23: Profit Maximization

Section: Chapter Questions

Problem 11E

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Question

A firms cost and revenue functions look like this in 3 questions below.

Total cost: TC = 100 + 2Q + Q²

Marginal cost: MC = 2 + 2Q

Price: P=22

What is the profit maximizing output?

a. 8

b. 10

c. 12

d. 25

e. All the other answers are wrong.

What is the firm's profit?

a. -14

b. -6

c. 0

d. 15

e. All then other answers are wrong.

What are the fixed costs and variable costs at the profit maximising output?

a. FC=0, VC=220

b. FC=100, VC=80

c. FC=80, VC=244

d. FC=100, VC=120

e. All the other answers are wrong.

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