A firm's profit function is pi (q) = R (q) = C (q) = 40q - (110 + 20q + 10q^2). What is the positive output level that maximizes the firm's profit (or minimizes its loss) ? What is the firm's revenue, variable cost, and profit? Should it operate or shut down in the short run? The output level at which the firm's profit is maximized is:
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Home » Business » A firm's profit function is pi (q) = R (q) = C (q) = 40q - (110 + 20q + 10q^2). What is the positive output level that maximizes the firm's profit (or minimizes its loss) ? What is the firm's revenue, variable cost, and profit?