A manufacturer can produce at most 140 units of a certain product each year. The demand equation for the product is p= q - 100q + 4800 and average-cost function is c=9 - 30q + manufacturer's 12,000 Determine the profit-maximizing output q and the corresponding maximum profit.

A manufacturer can produce at most 140 units of a certain product each year. The demand equation for the product is p= q - 100q + 4800 and average-cost function is c=9 - 30q + manufacturer's 12,000 Determine the profit-maximizing output q and the corresponding maximum profit.

Managerial Economics: Applications, Strategies and Tactics (MindTap Course List)

14th Edition

ISBN:9781305506381

Author:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris

Publisher:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris

Chapter2: Fundamental Economic Concepts

Section: Chapter Questions

Problem 2E

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