5. Rusty Trawler imports oil from Saudi Arabia. His cost function (for purchasing and delivering the oil) is TC = 5000+.1Q² where Q is the number of barrels of oil delivered. He may sell all the oil he can deliver for $60 per barrel (so TR = 60Q). Given these conditions, what are Rusty's maximum possible profits? a) $0 b) $300 c) $2,500 d) $4,000

5. Rusty Trawler imports oil from Saudi Arabia. His cost function (for purchasing and delivering the oil) is TC = 5000+.1Q² where Q is the number of barrels of oil delivered. He may sell all the oil he can deliver for $60 per barrel (so TR = 60Q). Given these conditions, what are Rusty's maximum possible profits? a) $0 b) $300 c) $2,500 d) $4,000

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Am. 111.
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