Jack's car repair factory has the Total Cost function TC(Q)=3.30³-540-8 where Q stands for the number of hours of repairs. If the market price for car repair is $100 per hour, what are the optimal hours of repairs that decimal places)?
Jack's car repair factory has the Total Cost function TC(Q)=3.30³-540-8 where Q stands for the number of hours of repairs. If the market price for car repair is $100 per hour, what are the optimal hours of repairs that decimal places)?
Managerial Economics: A Problem Solving Approach
5th Edition
ISBN:9781337106665
Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Publisher:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Chapter7: Economies Of Scale And Scope
Section: Chapter Questions
Problem 7.3IP
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![Jack's car repair factory has the Total Cost function:
TC(Q)=3.30³-540 + 8
where Q stands for the number of hours of repairs. If the market price for car repair is $100 per hour, what are the optimal hours of repairs that Jack will do (round to 2
decimal places)?](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fa8edb1ae-a456-4939-9152-e7a523d58601%2Fd4d47aaf-59ad-4db1-8edf-18b2c1d50302%2Fvpr7png_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Jack's car repair factory has the Total Cost function:
TC(Q)=3.30³-540 + 8
where Q stands for the number of hours of repairs. If the market price for car repair is $100 per hour, what are the optimal hours of repairs that Jack will do (round to 2
decimal places)?
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