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1. (40 points =53) Hack's Berries faces a short-run total cost of production given by TC=Q312Q2+100Q+1000, where Q is the number of crates of berries
1. (40 points =53) Hack's Berries faces a short-run total cost of production given by TC=Q312Q2+100Q+1000, where Q is the number of crates of berries produced per day. Calculate the marginal cost 1.1 What is the level of Hack's fixed cost? 1.2 What is Hack's short-run average variable cost of producing berries? 1.3 If berries sell for $60 per crate, how many berries should Hack produce? Check shut down condition 1.4 If the price of berries is $73 per crate, how many berries should Hack produce? (Use quadratic formula, and choose the larger quantity)
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