11. Madibaz is a company that produces t-shirts. The firm operates in a highly competitive, industry and each t-shirt is priced at R80. Madibaz's marketing manager wants to determine the possible total profit for the year given the price and costs of production. The total cost equation is TC = 25000 + 0.025Q where Q is the number of t-shirts per year. Calculate Madibaz's total profit.
11. Madibaz is a company that produces t-shirts. The firm operates in a highly competitive, industry and each t-shirt is priced at R80. Madibaz's marketing manager wants to determine the possible total profit for the year given the price and costs of production. The total cost equation is TC = 25000 + 0.025Q where Q is the number of t-shirts per year. Calculate Madibaz's total profit.
Essentials of Economics (MindTap Course List)
8th Edition
ISBN:9781337091992
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter12: The Cost Of Production
Section: Chapter Questions
Problem 7PA
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![11.
Madibaz is a company that produces t-shirts. The firm operates in a highly competitive,
industry and each t-shirt is priced at R80. Madibaz's marketing manager wants to
determine the possible total profit for the year given the price and costs of production.
The total cost equation is
TC=25000 +0.025Q
where Q is the number of t-shirts per year.
Calculate Madibaz's total profit.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F78664e34-f555-4df8-8abc-44c0302d65c7%2F7981240f-bc8d-495a-91f8-a3bdabf65020%2Feivp87e_processed.jpeg&w=3840&q=75)
Transcribed Image Text:11.
Madibaz is a company that produces t-shirts. The firm operates in a highly competitive,
industry and each t-shirt is priced at R80. Madibaz's marketing manager wants to
determine the possible total profit for the year given the price and costs of production.
The total cost equation is
TC=25000 +0.025Q
where Q is the number of t-shirts per year.
Calculate Madibaz's total profit.
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