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Suppose that you can sell as much of a product (in integer units) as you like at $74 per unit. Your marginal cost (MC) for
Suppose that you can sell as much of a product (in integer units) as you like at $74 per unit. Your marginal cost (MC) for producing the qth unit is given by: MC= 8q
This means that each unit costs more to produce than the previous one (e.g., the first unit costs 8*1, the second unit (by itself) costs 8*2, etc.).
If fixed costs are $450,what is the optimal integer output level?
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