Question
Assume that a competitive firm has the total cost function: TC=1q 3 40q 2 +890q+1800 TC=1q3-40q2+890q+1800 Suppose the price of the firm's output (sold in
Assume that a competitive firm has the total cost function:
TC=1q
3
40q
2
+890q+1800
TC=1q3-40q2+890q+1800
Suppose the price of the firm's output (sold in integer units) is $600 per unit.
Using tables (but not calculus) to find a solution, what is the total profit at the optimal output level?
Please specify your answer as an integer.
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Principles Of Financial Accounting
Authors: John J Wild, Ken W Shaw, Barbara Chiappetta
22nd Edition
0077632893, 9780077632892
