Homework Answers
P = 120 - 10Q
TR = P * Q
TR = (120 - 10Q) * Q
TR = 120Q - 10Q2
MR = 
= 120 - 20Q
Profit maximising level of output is produced at a point where the marginal revenue equals the marginal cost.
120 - 20Q = 20
120 - 20 = 20Q
100 = 20Q
Q = 100/20 = 5 units.
P = 120 - 10 * 5
P = $70.
Area of yellow shaded triangle = 1/2 * base * height
DWL = 1/2 * (10 - 5) * (70 - 20)
DWL = $125.
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Font El Paragraph Paragraph Font cal styles 6. Given the following, find the DWL. P = 120 - 10Q MC = 20 FC = 0
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