Find the inverse demand equation. Having found that, find the Total Revenue function for your firm (TR is P x Q). From your firm’s Total Revenue function, then find your Marginal Revenue (MR) function.

Use the profit maximization rule MR = MC to determine your optimal price and optimal output level now that you have market power.

TC = 160,000,000 + 100Q + 0.0063212Q^2

VC = 100Q + 0.0063212Q^2

MC= 100 + 0.0126424Q

Supply function Q = -7909.89 + 79.0989P

Demand function Q =  38650 – 42P

P = (38650/42) – Q/42

P= 920.24-0.024Q

 
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