Demand for a Firm Has Been Reliably Measured as P

question 108

Essay

Demand for a firm has been reliably measured as P = 100- 5Q where Q is output and P is price in dollars.Total cost is in the table below.Complete the table and indicate the level of output and price which a profit-maximizing firm would select and indicate the same for a sales-maximizing firm.
$$\begin{array} { c c c c } \underline{\text { Quantity }} & \underline { \text { Price } } & \underline { \text { Revenue } } & \underline{ \text { Cost } }&\underline{\text { Profit }} \\1 & \underline {\quad\quad }& \underline { \quad\quad }&200& \underline { \quad\quad } \\2 & \underline {\quad\quad }& \underline { \quad\quad }&210& \underline { \quad\quad } \\3 & \underline {\quad\quad }& \underline { \quad\quad }&220 & \underline { \quad\quad } \\4 & \underline {\quad\quad }& \underline { \quad\quad }&231 & \underline { \quad\quad } \\5 & \underline {\quad\quad }& \underline { \quad\quad }&243 & \underline { \quad\quad } \\6 & \underline {\quad\quad }& \underline { \quad\quad }&256 & \underline { \quad\quad } \\7 & \underline {\quad\quad }& \underline { \quad\quad }&270 & \underline { \quad\quad } \\8 & \underline {\quad\quad }& \underline { \quad\quad }&285 & \underline { \quad\quad } \\9 & \underline {\quad\quad }& \underline { \quad\quad }&301 & \underline { \quad\quad } \\10 & \underline {\quad\quad }& \underline { \quad\quad }&320 & \underline { \quad\quad } \\11 & \underline {\quad\quad }& \underline { \quad\quad }&345 & \underline { \quad\quad } \\12 & \underline {\quad\quad }& \underline { \quad\quad }&375& \underline { \quad\quad } \\\end{array}$$

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