1. At what Q is TR maximized? How do you know this is a maximum
TR = 21Q –Q2 TC = 1/3Q3 – 3Q2 + 9Q + 6
At what Q is TR maximized?
How do you know this is a maximum
At what Q is profit maximized?
Prove this is a maximum.
What is the maximum profit?

2. A) At what Q is profit maximized? B) Prove this is a maximum.
TR = 50Q – Q2
TC = 100 – 4Q + 2Q2
A) At what Q is profit maximized?
B) Prove this is a maximum.
C) What is the total profit?

3. Demand curve is Q = 220 – P TC = 1000 + 80Q – 3Q2 + 1/3Q3
A) Write the equation for Total Revenue.
B) Determine the output level and price that will maximize profit/minimize loss.
C) What is the profit/loss at this point?

4. Short run Total Cost STC = 4850 + 40Q – 1.5Q2 + 0.04Q3
A) What is the dollar value of average fixed cost at an output of 25 units?
B) At what level will marginal cost be minimized?
C) Prove this is a minimum.
D) At what level will AVC be minimized?
E) Prove this is a minimum.

5. Demand function Q = 350 – 0.25P STC = 20000 + 200Q – 9Q2 + 1/3Q3
Determine the profit maximizing quantity sold and the price.
Prove this is a maximum.
What is the level of profit?

6. Demand Q = 75 – 0.5P STC = 500 + 30Q – 3Q2 + 1/3Q3
Find the MR equation for the firm.
Solve for the profit maximizing quantity and price.