The manager of a watch making firm operating into a competitive market. Cost of production is specified by the equation C = 100 + Q2, Here Q denote the level of output and C is net cost. (The marginal cost of production is 2Q. The fixed cost of production is equivalent to $100.) Find out the profit level?
Profit is equivalent to total revenue minus total cost:
? = (60)(30) - (100 + 302) = $800.