g. At what positive level of Q is marginal profit maximized? You found the profit function in (e) above. Marginal profit is the first derivative of the profit function (e). Next, find the derivative of marginal profit, set it equal to zero, and solve for Q. This is the Q that maximizes marginal profit. h. What price per unit should be charged for each unit of Q found in (g)? Simply plug the Q you got in (g) into the same price function you found in (a) and also used in (d).
g. At what positive level of Q is marginal profit maximized? You found the profit function in (e) above. Marginal profit is the first derivative of the profit function (e). Next, find the derivative of marginal profit, set it equal to zero, and solve for Q. This is the Q that maximizes marginal profit. h. What price per unit should be charged for each unit of Q found in (g)? Simply plug the Q you got in (g) into the same price function you found in (a) and also used in (d).
Managerial Economics: Applications, Strategies and Tactics (MindTap Course List)
14th Edition
ISBN:9781305506381
Author:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris
Publisher:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris
Chapter11: Price And Output Determination: Monopoly And Dominant Firms
Section: Chapter Questions
Problem 3E
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Given equation and questions I need answered are attached.
Below are the answers to previous questions (A-C) on this assignment.
a. TR = 220Q - Q^2
b. MC = 80 - 60 + Q^2
c. Value of Q that maximizes profit = 14
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The answers you provided is what I got for total profit. I believe marginal profit should be different...
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