The Following Is a Demand Curve for an Oligopoly Firm

Essay

The following is a demand curve for an oligopoly firm:
AR = P = 200 - Q
where Q is the quantity sold per month of Product A, and P is the price of Product A. The firm's total cost function is:
TC = 5000 + 20Q - 13Q² + 1/3 Q³
a. Determine the quantity sold that will maximize profit.Assume fractional quantities are acceptable.)
b. Indicate the dollar amount of profit for the firm at the above output per month.