Question: Demand function: P=30-Q/1000 Production function: Q=min(L,K,T/3) K=10,000 L=$6 T=2 TFC=10,000 What is TVC, TC, MC, Using MR=MC relationship to maximize profts, find your optimal level

Demand function: P=30-Q/1000

Production function: Q=min(L,K,T/3)

K=10,000

L=$6

T=2

TFC=10,000

What is TVC, TC, MC,

Using MR=MC relationship to maximize profts, find your optimal level of output, price for shirts, input levels and profit?

Find

Q:

P:

L:

K:

T:

pi:

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