Assume that a competitive firm has the total cost function: TC = 1q3 - 40q2 + 870q
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Question:
Assume that a competitive firm has the total cost function: TC = 1q3 - 40q2 + 870q + 1500 suppose the price of the firm's output (sold in integer units) is $700 per unit. Using tables (but not calculus) to find a solution, how many units should the firm produce to maximize profit? Please specify your answer as an integer.
Related Book For
Mathematical Applications for the Management Life and Social Sciences
ISBN: 978-1305108042
11th edition
Authors: Ronald J. Harshbarger, James J. Reynolds
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