QUESTION 19 The competitive market price of long-haul trucking is $3 per ton-mile. Red Raider Trucking is a competitive producer of long-haul trucking and has the following cost functions that depend on Q the quantity of ton-miles hauled: TC = 29.6875 + 1.75 Q + 0.025 Q? How large are Red Raider Trucking's profits ir the optimal output level is chosen? and MC = 1.75 + 0.05 0. O 25 O 29.6875 O 45.3125 O 75
QUESTION 19 The competitive market price of long-haul trucking is $3 per ton-mile. Red Raider Trucking is a competitive producer of long-haul trucking and has the following cost functions that depend on Q the quantity of ton-miles hauled: TC = 29.6875 + 1.75 Q + 0.025 Q? How large are Red Raider Trucking's profits ir the optimal output level is chosen? and MC = 1.75 + 0.05 0. O 25 O 29.6875 O 45.3125 O 75
Microeconomics: Private and Public Choice (MindTap Course List)
16th Edition
ISBN:9781305506893
Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Chapter9: Price Takers And The Competitive Process
Section: Chapter Questions
Problem 9CQ
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![QUESTION 19
The competitive market price of long-haul trucking is $3 per ton-mile. Red Raider Trucking is a competitive producer of long-haul trucking and has the following cost functions
that depend on Q the quantity of ton-miles hauled:
MC = 1.75 + 0.05 0.
TC = 29.6875 + 1.75 Q + 0.025 Q?
How large are Red Raider Trucking's profits if the optimal output level is chosen?
and
O 25
O 29.6875
O 45.3125
O 75](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fdfb7093f-8000-4e05-a6a1-778f38e33e81%2F5aed9018-228f-4be8-a8c2-37a727dcf907%2Ficz818s_processed.jpeg&w=3840&q=75)
Transcribed Image Text:QUESTION 19
The competitive market price of long-haul trucking is $3 per ton-mile. Red Raider Trucking is a competitive producer of long-haul trucking and has the following cost functions
that depend on Q the quantity of ton-miles hauled:
MC = 1.75 + 0.05 0.
TC = 29.6875 + 1.75 Q + 0.025 Q?
How large are Red Raider Trucking's profits if the optimal output level is chosen?
and
O 25
O 29.6875
O 45.3125
O 75
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