Sandra has a short-run cost function of producing good 1 of c(q) = 4q² + 40 where q is the quantity of good 1 produced. If she received a price of $24 for each unit of good 1 sold, what is Sandra's profit-maximising level of profit assuming that the market is perfectly competitive?

Sandra has a short-run cost function of producing good 1 of c(q) = 4q² + 40 where q is the quantity of good 1 produced. If she received a price of $24 for each unit of good 1 sold, what is Sandra's profit-maximising level of profit assuming that the market is perfectly competitive?

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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