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Assume that a competitive firm has the total cost function: TO =1q - 40q' + 890q + 1800 Suppose the price of the firm's output
Assume that a competitive firm has the total cost function: TO =1q - 40q' + 890q + 1800 Suppose the price of the firm's output (sold in integer units) is $600 per unit. Create tables (but do not use calculus) with columns representing cost, revenue, and profit to find a solution. How many units should the firm produce to maximize profit? Please specify your answer as an integer. What is the total profit at the optimal output level? Please specify your answer as an integer.Suppose that you can sell as much of a product (in integer units) as you like at $60 per unit. Your marginal cost (MC) for producing the qth unit is given by: MC =7q This means that each unit costs more to produce than the previous one (e.g., the first unit costs 7$1, the second unit (by itself) costs 7*2, etc.). If fixed costs are $80, what is the optimal integer output level? Please specify your answer as an integer. If fixed costs are $80, what is the profit at the optimal integer output level? Please specify your answer as an integer. If fixed costs are $105, what is the optimal integer output level? Please specify your answer as an integer. If fixed costs are $105, what is the profit at the optimal integer output level? Please specify your answer as an integer.Global Corp. sells its output at the market price of $13 per unit. Each plant has the costs shown below: Units of Output Total Cost ($) 8 11 2 17 3 26 4 38 5 53 71 92 What is the breakeven quantity? Enter 0 if total profit is always negative. Please specify your answer as an integer. What is the breakeven revenue? Enter 0 if total profit is always negative. Please specify your answer as an integer. What is the profit at each plant when operating at its optimal output level? Please specify your answer as an integer. How many units of output should each plant produce? Please specify your answer as an integer
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