8 Apr

A Perfectly competitive firm whose total cost equation is TC = 6 + 33Q − 9Q2 + Q3 can sell its entire output for 18 cedis per unit.

A. Derive the firm’s total revenue and profit functions.

B. What output should the firm produce in order to maximize profit. What is the profit level?

A Perfectly competitive firm whose total cost equation is TC = 6 + 33Q − 9Q2 + Q3 can sell its entire output for 18 cedis per unit.

A. Derive the firm’s total revenue and profit functions.

B. What output should the firm produce in order to maximize profit. What is the profit level?

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