If a competitive firm has a total cost function of C=450+15q+2q^2 q=25 and price=115 how do i find the profit?

Profit = total price - total cost


so start by working out Total Cost





Total Cost = 450 + 15q + 2q^2, where q=25


= 450 + 15*25 + 2*(25^2)


= 450 + 15* 25 + 2*625


= 450 + 375 + 1250


= 2075





Total price = unit price * quantity


= 115 * 25


= 2875





Therefore,





Profit = 2875 - 2075 = 800

If a competitive firm has a total cost function of C=450+15q+2q^2 q=25 and price=115 how do i find the profit?
calculte the cost by puting 25 in for q, then profit =(price-cost)q

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