A firm has the following total revenue and total cost functions:
TR = 86Q - .5Q2 
a. At what level of output does the firm maximize total revenue?
b. At what level of output does the firm maximize total profit?
c. How much is the firm's total profit at its maximum?
Definitions:
Equal Payments
Regular payments of the same amount made over a specified period, often used in loans and annuities.
Loan Repaid
The process of paying back borrowed money to the lender, typically including both the original principal amount and accrued interest.
Simple Annual Rate
The interest rate without compounding, indicating the flat yearly cost of borrowing or the annual rate of interest paid on an investment.
Interest Earned
Interest earned is the amount of money gained as interest from savings accounts, investments, or bonds over a certain period.
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