Question
Price = $4.20 Total Cost = 40 + .Q^2 - .2Q Marginal Cost = .2Q - .2 HOWEVER, if consumer income decreases, what is the
Price = $4.20
Total Cost = 40 + .Q^2 - .2Q
Marginal Cost = .2Q - .2
HOWEVER, if consumer income decreases, what is the NEW QUANTITY to produce and what would the profit be?
I got 22 as the quantity to maximize profit for ANOTHER question. (the quantity should be different from 22 but I'm not sure how you'd do that.)
Also it shouldn't involve derivatives. This is definitely not THAT complicated of a problem. THANK YOU
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Economics
Authors: Roger A. Arnold
12th edition
978-1305758674, 1305758676, 978-1285738321
