Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Hiii im stuck :) With a demand curve of Q= 80-4/3P and average total cost of production of ATC= 0.5Q+10+ (1,000)/Q Which is not true?
Hiii im stuck :)
With a demand curve of
Q= 80-4/3P
and average total cost of production of
ATC= 0.5Q+10+ (1,000)/Q
Which is not true?
- max total profit is positive
- max value of total revenue function is 1200
- profit maximizing price is P = 45
- the total cost of production is TC = 0.5Q^2+10Q+1,000
Thanks <3
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