HELP ME PLEASE!! Consider a profit maximizing perfectly competitive market where

Question

HELP ME PLEASE!!

Consider a profit maximizing perfectly competitive market where: TC = .9Q^3 - 175Q^2 + 12,000Q and the price $5500(Relevant range of Q is from 1 to 200; round your answers to two decimals) What is the profit maximizing Q the firm will produce? What is ATC at the profit maximizing Q? At what level of production is ATC minimized? What is the profit or a loss for this firm if it is maximizing profits? There will be entry in this market. True False What is the TR of selling 85 units? What is the TC of making 98 units?

Explanation / Answer

TC =

26) ATC =

27) ATC IS MINIMIZED AT EUILIIBRIUM LEVEL

29) FALSE

30)467500

31) 342373

0.9*(Q)^3-175*(Q)^2+12000*(Q)

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