1A. Given the price (P) and output (Q) data in the folowing table, calculate the related total revenue (TR), marginal revenue (MR), and average revenue (AR) figures: Graph

B. At what output level is revenue maximized?

2. PROFIT MAXIMIZATION: EQUATIONS. Woodlands instruments Inc. operates in the highly competitive electronics industry. Prices for its R2-D2 control switches arer stablel at $100 each. This means that P=MR=$100in the market. Engineering estmates indicate that relevent total and marginal cost relations for the R2-D2 model are:

TC=500,000 + 25Q + $0.0025Qsquared

MC=(like a dislexic 6) TC/(backwards 6)q=$25+$0.05Q

A. Calculate the output level that will mazimiize R2-D2 profit

B. Calculate the maximum profit

B. At what output level is revenue maximized?

2. PROFIT MAXIMIZATION: EQUATIONS. Woodlands instruments Inc. operates in the highly competitive electronics industry. Prices for its R2-D2 control switches arer stablel at $100 each. This means that P=MR=$100in the market. Engineering estmates indicate that relevent total and marginal cost relations for the R2-D2 model are:

TC=500,000 + 25Q + $0.0025Qsquared

MC=(like a dislexic 6) TC/(backwards 6)q=$25+$0.05Q

A. Calculate the output level that will mazimiize R2-D2 profit

B. Calculate the maximum profit

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