Question
Phillip catering service is a small business that acts as a price taker. Phillip Total Cost (T C) = 0.1q 2 + 10q + 50,
Phillip catering service is a small business that acts as a price taker. Phillip Total Cost (T C) = 0.1q2 + 10q + 50, where q = the number of orders that phillips chooses to cater each day.
a. How many orders should phillip choose to cater in order to maximize profit?
b. What is phillips profit function?
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Macroeconomics Principles And Policy
Authors: William J. Baumol, Alan S. Blinder
11th Edition
0324586213, 978-0324586213
