A monopolistic public enterprise aims at achieving the optimum distribution of productive forces. The public enterprise's total cost function is TC = 3Q2 (where TC is the total cost and Q is the quantity) and the function of reverse demand P = 100-4Q (where P is the price). Based on the above the enterprise will produce: A. Q =4 B. Q=6 C. Q=100 D. Q = 10 Choose one of the above and justify your answer showing your solution process.
A monopolistic public enterprise aims at achieving the optimum distribution of productive forces. The public enterprise's total cost function is TC = 3Q2 (where TC is the total cost and Q is the quantity) and the function of reverse demand P = 100-4Q (where P is the price). Based on the above the enterprise will produce: A. Q =4 B. Q=6 C. Q=100 D. Q = 10 Choose one of the above and justify your answer showing your solution process.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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A monopolistic public enterprise aims at achieving the optimum distribution of productive forces. The public enterprise's total cost function is TC = 3Q2 (where TC is the total cost and Q is the quantity) and the function of reverse demand P = 100-4Q (where P is the price ). Based on the above the enterprise will produce:
A. Q =4
B. Q=6
C. Q=100
D. Q = 10
Choose one of the above and justify your answer showing your solution process.
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