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QUESTION 3 [25 Marks] Suppose that the total cost vs. production volume function is given by the following equation: TC = 0.0001N3 -0.12.N? + 78

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QUESTION 3 [25 Marks] Suppose that the total cost vs. production volume function is given by the following equation: TC = 0.0001N3 -0.12.N? + 78 N +23,000 The unit price (sale price of one unit) is 220. Using the marginal approach to profit maximisation, calculate the production volume at which the gross profit would be at its maximum

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