Question
Suppose Kate's Great Crete (KGC) has annual variable costs of VC = 30 Q + 0.0025 Q 2 and marginal costs of MC = 30
Suppose Kate's Great Crete (KGC) has annual variable costs ofVC= 30Q+ 0.0025Q2and marginal costs ofMC= 30 + 0.005Q,whereQis the number of cubic yards of concrete it produces per year. In addition, it has an avoidable fixed cost of $50,000 per year. KGC's demand function isQd= 20,000 - 400P. What is the profit maximizing sales quantity?
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Statistical Techniques In Business And Economics
Authors: Douglas Lind, William Marchal
16th Edition
78020522, 978-0078020520
