Assume that a competitive firm has the total cost


Assume that a competitive firm has the total cost function:

TC = 1q^3 - 40q^2 + 710q + 1700

The price of the firm's output (sold in integer units) is $550 per unit.

Using tables (not Calculus) find a solution for total profit at the optimal output level?

Specify your answer as an integer.

Solution Preview :

Prepared by a verified Expert
Business Economics: Assume that a competitive firm has the total cost
Reference No:- TGS02349564

Now Priced at $10 (50% Discount)

Recommended (92%)

Rated (4.4/5)