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In a fake economy with small quantities, a wheat farmer can sell as many bushels of wheat as he wants at the current market price
In a fake economy with small quantities, a wheat farmer can sell as many bushels of wheat as he wants at the current market price for wheat, $10 per bushel. The wheat farmer has cost function C =5+ 3Q2 where 'Q' is quantity of bushels . The firm must sell an integer amount of bushels of wheat. Calculate profit-maximizing values for the following (You must type your answers directly into eCourses, and clearly label each answer, to receive any credit for them. You must also show your calculations to receive any credit for your answers; if you wish, you can attach an Excel file that contains your supporting calculations.) a) Quantity b) Total revenue c) Total cost d) Total profits
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