Answer Happy

Use the Total Revenue Function to find the revenue maximizing
Price and Quantity.
Use the profit function to find the profit maximizing P and
Q.
Use the Total Revenue and Total Cost functions to find the
profit maximizing P and Q.
Explain briefly why these come to the same answer. (NOTE: Q =
Quantity and P = Price)
Information-Inverse Demand Function: P = 250 – 10Q Total Revenue
Function: TR = 250Q – 10Q2 Total Cost Function (this is a linear
function): TC = 600 + 50 Q Profit Function: Profit = 200Q – 10Q2 –
600