3.5 If the pre-tax cost function for Johns Shoe Repair is C(q) = 100 + 10q -...
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3.5 If the pre-tax cost function for John’s Shoe Repair is C(q) = 100 + 10q - q2 + 13 q3, and it faces a specific tax of = 10, what is its profit-maximizing condition if the market price is p? Can you solve for a single, profit maximizing q in terms of p? (Hint:
See Exercise 3.3 and Solved Problem 8.1.) M
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