let a quarrys cost function of producing q tons


Let a quarry's cost function of producing Q tons of stone per hour be given by TC = Q3- 10Q2+ 40Q + 25, so that marginal cost function is MC= 3Q2- 20Q + 40.

(i) Find the formula for the quarry's short-run supply curve and draw its detailed graph. Explain your solution.

(ii) If market price of a ton of stone is $28, how much will the quarry's manager be willing to produce per hour in the short run? Calculate per hour profit.

Request for Solution File

Ask an Expert for Answer!!
Managerial Accounting: let a quarrys cost function of producing q tons
Reference No:- TGS0275760

Expected delivery within 24 Hours