Assume that a competitive firm has the total cost function: TC=1q3−40q2+820q+1900TC=1q3-40q2+820q+1900 Suppose the price of the firm's output (sold in integer units) is $650 per unit. Using tables (but not calculus) to find a solution, what is the total profit at the optimal output level? Please specify your answer as an integer.

Assume that a competitive firm has the total cost function: TC=1q3−40q2+820q+1900TC=1q3-40q2+820q+1900 Suppose the price of the firm's output (sold in integer units) is $650 per unit. Using tables (but not calculus) to find a solution, what is the total profit at the optimal output level? Please specify your answer as an integer.

Managerial Economics: A Problem Solving Approach

5th Edition

ISBN:9781337106665

Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor

Publisher:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor

Chapter9: Market Structure And Long-run Equilibrium

Section: Chapter Questions

Problem 1MC

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