company a sells its products in ENGLAND and three
neighboring countries. Data collected from 2010 to 2018 shows that
the company produced 300,000 barrels of beer annually. During this
period, the average price per barrel of beer P (in dollars) was
related to the quantity of beer sold Q (in thousands of barrels) by
the demand function
P=-0.3224Q+245.4031
The total cost of producing Q thousand barrels of beer was
TC(Q)=101.1995Q+4699.3441
a) At what output level revenue be maximized?
b) Find the quantity and price levels that maximize
profit.
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