A company distributes organic soy protein with a monthly demand function of Q=26,000-200p, and total cost...
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A company distributes organic soy protein with a monthly demand function of Q=26,000-200p, and total cost function TC= 13,000 + 40Q+0.025Q¹, where p is the price of organic soy protein per pound (dollars) and Q is the quantity (pounds). (a) What are the optimal quantity, price, and profit of the company? 3 (b) Since the COVID-19 pandemic, most employees started working from home, so the company cuts down its rent of office building by $3,500 per month. What are the optimal quantity, price, and profit under the new condition? A company distributes organic soy protein with a monthly demand function of Q=26,000-200p, and total cost function TC= 13,000 + 40Q+0.025Q¹, where p is the price of organic soy protein per pound (dollars) and Q is the quantity (pounds). (a) What are the optimal quantity, price, and profit of the company? 3 (b) Since the COVID-19 pandemic, most employees started working from home, so the company cuts down its rent of office building by $3,500 per month. What are the optimal quantity, price, and profit under the new condition?
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Related Book For
Microeconomics
ISBN: 9781464146978
1st Edition
Authors: Austan Goolsbee, Steven Levitt, Chad Syverson
Posted Date:
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