The Marketing Division of a Firm Has Measured Demand for Its

question 92

Essay

The marketing division of a firm has measured demand for its product and reports that it is 2Q = 24 - P, where Q is units and P is price per unit in dollars.The cost is given in the table below.Complete the table and determine the profit-maximizing level of output for this firm.
$\begin{array}{cc} \underline {\text { Output }} & \underline { \text { Total Cost } }& \underline {\text {Price}}& \underline {\text {Revenue}} & \underline { \text { Profit } } \\0 & 10& \underline { \quad\quad\quad\quad\quad } & \underline { \quad\quad\quad\quad\quad } & \underline { \quad\quad\quad\quad\quad } \\ 1 & 18& \underline { \quad\quad\quad\quad\quad } & \underline { \quad\quad\quad\quad\quad } & \underline { \quad\quad\quad\quad\quad } \\2 & 20 & \underline { \quad\quad\quad\quad\quad } & \underline { \quad\quad\quad\quad\quad } & \underline { \quad\quad\quad\quad\quad } \\3 & 22& \underline { \quad\quad\quad\quad\quad } & \underline { \quad\quad\quad\quad\quad } & \underline { \quad\quad\quad\quad\quad } \\4 & 25 & \underline { \quad\quad\quad\quad\quad } & \underline { \quad\quad\quad\quad\quad } & \underline { \quad\quad\quad\quad\quad } \\5 &29& \underline { \quad\quad\quad\quad\quad } & \underline { \quad\quad\quad\quad\quad }& \underline { \quad\quad\quad\quad\quad } \\6 & 34& \underline { \quad\quad\quad\quad\quad } & \underline { \quad\quad\quad\quad\quad }& \underline { \quad\quad\quad\quad\quad } \\7 & 40 & \underline { \quad\quad\quad\quad\quad } & \underline { \quad\quad\quad\quad\quad }& \underline { \quad\quad\quad\quad\quad } \\8 & 48 & \underline { \quad\quad\quad\quad\quad } & \underline { \quad\quad\quad\quad\quad }& \underline { \quad\quad\quad\quad\quad } \\\end{array}$

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Commerce Clause

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