EconomicsNEB 2081

If total revenue of a firm is 5Q^2 4Q+10 and total cost is 4Q^2 6Q+20 , find the total profit.

1

Answer

Total profit is calculated as the difference between total revenue (TR) and total cost (TC).

Given:

The formula for total profit () is:

Substitute the given expressions:

Simplify the equation:

Thus, the total profit function is:

Discussion

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