Question
Assume that a competitive firm has the total cost function: TC=1q^340q^2+820q+1900 Suppose the price of the firm's output (sold in integer units) is $600 per
Assume that a competitive firm has the total cost function:
TC=1q^340q^2+820q+1900
Suppose the price of the firm's output (sold in integer units) is $600 per unit.
By creating tables (but not using 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.
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OPEC Twenty Years And Beyond
Authors: Ragaei El Mallakh
1st Edition
1317244737, 9781317244738
