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
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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