A firm in an oligopolistic industry has the following demand and total

A firm in an oligopolistic industry has the following demand and total cost equations:

P = 600 – 20Q and TC = 700 + 160Q + 15Q2

Calculate:
a. quantity at which profit is maximized
b. maximum profit
c. quantity at which revenue is maximized
d. maximum revenue
e. maximum quantity at which profit will be at least $580
f. maximum revenue at which profit will be at least $580

ANSWER

If revenue and cost schedules are calculated:
a. 6; b. 680; c. 15; d. 4500; e. 8; f. 3520

If results are calculated with equations:
a. 6.286; b. 682.86; c. 15; d. 4500; e. 8; f. 3520