Question
Assume that a competitive firm has the total cost function: TC = 1q3 - 40q2 + 870q + 1500 suppose the price of the firm's
Assume that a competitive firm has the total cost function: TC = 1q3 - 40q2 + 870q + 1500 suppose the price of the firm's output (sold in integer units) is $700 per unit. Using tables (but not calculus) to find a solution, how many units should the firm produce to maximize profit? Please specify your answer as an integer.
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Mathematical Applications for the Management Life and Social Sciences
Authors: Ronald J. Harshbarger, James J. Reynolds
11th edition
9781337032247, 9781305465183, 1305108043, 1337032247, 1305465180, 978-1305108042
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