Question
Assume that a competitive firm has the total cost function: TC=1q340q2+810q+1500Suppose the price of the firm's output (sold in integer units) is $700 per unit.
Assume that a competitive firm has the total cost function:
TC=1q340q2+810q+1500Suppose the price of the firm's output (sold in integer units) is $700 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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Consumer Behaviour
Authors: Evans, Martin Evans
2nd Edition
0470994657, 9780470994658
