A price-taking firm's variable cost function is VC=2Q³, where Q is its output per week. It has a sunk fixed cost of $3,000 per week. Its marginal cost is MC=6Q² Instructions: Enter your answers as whole numbers. a. What is its profit-maximizing output when the price is P= $216? units b. What is the profit maximizing output if the fixed cost is avoidable? units

A price-taking firm's variable cost function is VC=2Q³, where Q is its output per week. It has a sunk fixed cost of $3,000 per week. Its marginal cost is MC=6Q² Instructions: Enter your answers as whole numbers. a. What is its profit-maximizing output when the price is P= $216? units b. What is the profit maximizing output if the fixed cost is avoidable? units

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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