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.
1Answer
Total profit is calculated as the difference between total revenue (TR) and total cost (TC).
Given:
- Total Revenue (TR) =
- Total Cost (TC) =
The formula for total profit (π) is:
Substitute the given expressions:
Simplify the expression:
Thus, the total profit function is:
Discussion
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