Problem
A producer in a perfectly competitive industry has a cost function described by TC(q)=16,000+6q+0.1q^2. If the market price is 90 and it has already committed to paying the fixed cost, what is the maximum profit for the producer?
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.