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Use the information below to answer the following four questions. Demand function: P=60+2Q, where P is the unit selling price and Q is quantity of

Use the information below to answer the following four questions.

Demand function: P=60+2Q, where P is the unit selling price and Q is quantity of units in thousands.

Cost function: TC= 3Q2 - 2Q + 200, where TC is total costs in thousands of dollars.

Calculate the output when profit is maximized

a.

21,000 units

b.

17,000 units

c.

31,000 units

d.

33,000 units

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