heABCCompanyLtd.HasapproximatedthemarginalrevenuefunctionforoneofitsproductsbyMR=20x – 2x 2 .ThemarginalcostfunctionisapproximatedbyMC=81 – 16x+x 2 .Determinetheprofitmaximizingoutput,thetotalprofit,thetotalrevenuefunction,anddemandfunction
heABCCompanyLtd.HasapproximatedthemarginalrevenuefunctionforoneofitsproductsbyMR=20x – 2x 2 .ThemarginalcostfunctionisapproximatedbyMC=81 – 16x+x 2 .Determinetheprofitmaximizingoutput,thetotalprofit,thetotalrevenuefunction,anddemandfunction
Chapter4: Utility Maximization And Choice
Section: Chapter Questions
Problem 4.12P
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heABCCompanyLtd.HasapproximatedthemarginalrevenuefunctionforoneofitsproductsbyMR=20x
–
2x
2
.ThemarginalcostfunctionisapproximatedbyMC=81
–
16x+x
2
.Determinetheprofitmaximizingoutput,thetotalprofit,thetotalrevenuefunction,anddemandfunction
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