Jamie Co. has a patented disinfectant to clean the kitchen of restaurants. The market demand for her patented disinfectant is Q = 1,000 – 0.2P. Jamie Co. has a total cost function of C = 100,000 + 2,000Q + 10Q2. What is the profit-maximizing price and output level of Jamie Co.? Show your workings.
Jamie Co. has a patented disinfectant to clean the kitchen of restaurants. The market demand for her patented disinfectant is Q = 1,000 – 0.2P. Jamie Co. has a total cost function of C = 100,000 + 2,000Q + 10Q2. What is the profit-maximizing price and output level of Jamie Co.? Show your workings.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Jamie Co. has a patented disinfectant to clean the kitchen of restaurants. The market
demand for her patented disinfectant is Q = 1,000 – 0.2P. Jamie Co. has a total
cost function of C = 100,000 + 2,000Q + 10Q2.
What is the profit-maximizing
workings.
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