SOLUTION: please help to solve the following: TR=110Q-Q2 TC=1/2Q2+50Q+30 Determine the level at which the firm maximizes its total profit.

Question 252001: please help to solve the following:
TR=110Q-Q2
TC=1/2Q2+50Q+30
Determine the level at which the firm maximizes its total profit.
Answer by stanbon(75887) (Show Source): You can put this solution on YOUR website!
solve the following:
TR=110Q-Q2
TC=1/2Q2+50Q+30
Determine the level at which the firm maximizes its total profit.
----
PR = TR-TC
PR = -(3/2)Q^2 + 60Q - 30
----
max occurs when Q = -b/2a = -60/(2(-3/2)) = 20
---
Maximized profit when Q == 20
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Cheers,
Stan H.
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