11:30l 4G IHomework 4 (section 2.1-2 &2.2).pdfEconomic Mathematics (1)NameIDSection 2.2Revenue, cost and profit1. If the demand function of a good is given by P-80 – 3Q, the fixed costs are 100 and variablecost are 5 per unit. Work out the profit when Q-10.2. Find an expression for the profit function given the demand function 20+P= 25 and the32+5. Find the value of 0 for which the firmaverage cost function AC =(a) breaks even(b) makes a loss of 432 units(c) maximises profit.2/2!!

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1. If the demand function of a good is given by P-80 - 30, the fixed costs are 100 and variable cost are 5 per unit. Work out the profit when Q=10.

Microeconomic Theory

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Chapter18: Asymmetric Information

Section: Chapter Questions

Problem 18.3P

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Question

11:30
l 4G I
Homework 4 (section 2.1-2 &
2.2).pdf
Economic Mathematics (1)
Name
ID
Section 2.2
Revenue, cost and profit
1. If the demand function of a good is given by P-80 – 3Q, the fixed costs are 100 and variable
cost are 5 per unit. Work out the profit when Q-10.
2. Find an expression for the profit function given the demand function 20+P= 25 and the
32
+5. Find the value of 0 for which the firm
average cost function AC =
(a) breaks even
(b) makes a loss of 432 units
(c) maximises profit.
2/2
!!

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