logic and problem solving
Orçamento £10-20 GBP
A company manufactures a product. The total fixed costs are £400 and the variable cost per unit is £10. The total revenue function is given by = 60 − , where q is the quantity sold.
You should answer the following questions and incorporate your answers into a word-processed report. The sections of your report should correspond to the individual questions below.
1. Find an expression for total costs in terms of q, the quantity produced.
2. By plotting the revenue and cost functions found in Q1 above obtain the break even output levels and corresponding price.
3. Calculate the profit-maximising level of output and the profit at this output level..
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