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Dear Mr John,
in the following price, cost and revenue functions, which have been established by a company for one of its products, Q represents the number of units produced and sold per week:
Price ($per unit) =40-0.03Q
Marginal revenue ($per unit) =40-0.06Q
Total cost per week ($) =3500+10QQ1) What price should be set in order to maximise weekly profits?
A. $10 B. $15 C. $25 D.$30Q2) What would be the profit per week if the selling price of the product was set at $31 per unit? A. $2800 B.3150 C. 5490 D.5800
Can you show me how to you get the answer? i really don’t know this question asking about ? Thanks 🙂
It would be wasting your time for me to answer this.
The reason is that it was removed from the Paper F2 syllabus several years ago (it is now in Paper F5).
You cannot be asked this in Paper F2.
Noted. That rights, i really don’t understanding about this. haha
Anyway, thanks .
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