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The firm, competing in a very highly competitive market, is manufacturing and selling headphones. The firm’s...

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Economics

The firm, competing in a very highly competitive market, ismanufacturing and selling headphones. The firm’s total revenue andcost functions are:

Rq=q3+14q2+35q+40

Cq=13q3+20q2+19q+15

  1. How many headphones must the firm manufacture and sell tomaximize profits?
  2. What will be the price the firm must charge to its customers tomaximize profits?
  3. What will be the average revenue generated for each unit soldand what will be the average cost of producing a headphone?

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