Question
Given the cost information in the previous question TC = 40 + 0.1 Q 2 - 0.2Q MC = .2Q - .2 Market price =
Given the cost information in the previous question
TC = 40 + 0.1 Q2 - 0.2Q
MC = .2Q - .2
Market price = $4.20
Marginal revenue (MR)= $4.20 at all output levels.
What is the profit at the profit-maximizing output level (the output level derived in the previous question)? I had 22 output.
| a. | $45.00 | |
| b. | $10.50 | |
| c. | $6.30 | |
| d. | $8.40 |
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started
Intermediate Accounting Volume 1
Authors: Thomas H. Beechy, Joan E. Conrod, Elizabeth Farrell, Ingrid McLeod Dick
7th Edition
1260306747, 978-1260306743
