Suppose you are given the following demand and total cost functions for a firm that produces video games:
Q_(d)=120-2P
TC=2Q²
Let quantity be in millions of units. Use this information to answer th...
a. What is the profit-maximizing price and quantity?
b. Calculate the marginal revenue for the firm.
c. Determine the break-even quantity for the firm.
d. Find the average variable cost for producing 60 million units.