Company sells titanium alloy fasteners for airframe applications. The fasteners sell in packets of 1000 units, which each packet selling for $145. The company's total cost function is: TC = 3,200,000 + 0.002 Q^2, in which Q is expressed in packets produced per year and TC in dollars per year. What is company's annual profit if the quantity of packets produced and sold per year is 50,000?
Company sells titanium alloy fasteners for airframe applications. The fasteners sell in packets of 1000 units, which each packet selling for $145. The company's total cost function is: TC = 3,200,000 + 0.002 Q^2, in which Q is expressed in packets produced per year and TC in dollars per year. What is company's annual profit if the quantity of packets produced and sold per year is 50,000?
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Company sells titanium alloy fasteners for airframe applications. The fasteners sell in packets of 1000 units, which each packet selling for $145. The company's total cost function is:
TC = 3,200,000 + 0.002 Q^2,
in which Q is expressed in packets produced per year and TC in dollars per year.
What is company's annual profit if the quantity of packets produced and sold per year is 50,000?
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