The demand for private sellers' services is as follows: P = -1.6Q + 103 The fixed cost
Fantastic news! We've Found the answer you've been seeking!
Question:
The demand for private sellers' services is as follows: P = -1.6Q + 103
The fixed cost of the private seller is 100 and the variable cost is VC = 11Q + 0.010Q2
What is the profit of the private seller in the ideal position (which can be the biggest profit)?
Remember to calculate with many decimal places, but the final answer does not have to be with decimal places.
Related Book For
Microeconomics An Intuitive Approach with Calculus
ISBN: 978-0538453257
1st edition
Authors: Thomas Nechyba
Posted Date: