psndar2You're running a small firm, and you have an estimate of both your cost function and your demand curve. Your cost function is TC-791-11q+5g 2.while your inverse demand curve is P-870-0.4q, where P is the price of one unit of your output and q is the quantity of units produced and soldIf you wanted to maximize profit. what quantity would you produce? Please round your answer to the nearest whole number (ie, no decimalplaces)Type your answer...

Total revenue is the product of price and quantity. Profit is the difference between the total…

You're running a small firm, and you have an estimate of both your cost function and your demand curve. Your cost function is TC-791-11q+5q^2. while your inverse demand curve is P-870-04q, where P is the price of one unit of your output and a is the quantity of units produced and sold. If you wanted to maximize profit. what quantity would you produce? Please round your answer to the nearest whole number fue, no decimal places) Type your answer..

You're running a small firm, and you have an estimate of both your cost function and your demand curve. Your cost function is TC-791-11q+5q^2. while your inverse demand curve is P-870-04q, where P is the price of one unit of your output and a is the quantity of units produced and sold. If you wanted to maximize profit. what quantity would you produce? Please round your answer to the nearest whole number fue, no decimal places) Type your answer..

Micro Economics For Today

10th Edition

ISBN:9781337613064

Author:Tucker, Irvin B.

Publisher:Tucker, Irvin B.

Chapter8: Perefect Competition

Section: Chapter Questions

Problem 5SQP

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