From the point of view of the firm, what decisions criteria have been found relevant in the analysis of production and profit.
  1. A firm has the following demand function P = 60 – 0.5Q and its total       cost are defined by TC = 13 + Q. (20 points).

 

  1. Find the maximum revenue.
  2. Find the production to optimise the profit.
  3. Verify if that the marginal revenue and marginal cost are the same at

the profit maximising production level.

 

 

 

 

6. From the point of view of the firm, what decisions criteria have been found relevant in the analysis of production and profit. (10 points)