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Suppose you are the manager of a watchmaking firm operating in a competitive market. Your cost of production is given by C=400+2q2, where q is
Suppose you are the manager of a watchmaking firm operating in a competitive market. Your cost of production is given by C=400+2q2, where q is the level of output and C is total cost. (The marginal cost of production, MC(q), is 4q; the fixed cost, FC, is $400) If the price of a watch is $80, how many watches should you produce to maximize profits? You should produce |:| watches. (Enter your response as an integer.)
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