Question
PLEASE actually read my question. Thank you! Price = 4.2 Total Cost = 40 + .1Quantity^2 - .2Quantity Marginal Cost = .2Quantity - .2 I
PLEASE actually read my question. Thank you!
Price = 4.2
Total Cost = 40 + .1Quantity^2 - .2Quantity
Marginal Cost = .2Quantity - .2
I got 22 as the quantity to maximize profit.
HOWEVER, if consumer income decreases, what is the new quantity to produce and what would the profit be?
How would you figure out what the new quantity would be?
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Public Expenditure Decisions In The Urban Community
Authors: Howard G Schaller
1st Edition
1317310985, 9781317310983
