Suppose that the a firm's cost function is given by: C(q)=1+3q2. Then, the expression for this firm's profit function is? A) Profit(a)=pq-6q. B) Profit(a) =pq-1-q?. C) Profit(a)=pq-1-3q?. D) Profit(a)=pq-1-6q. E) Profit(a)=pq-3q2.
Suppose that the a firm's cost function is given by: C(q)=1+3q2. Then, the expression for this firm's profit function is? A) Profit(a)=pq-6q. B) Profit(a) =pq-1-q?. C) Profit(a)=pq-1-3q?. D) Profit(a)=pq-1-6q. E) Profit(a)=pq-3q2.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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![Suppose that the a firm's cost function is given by: C(q)=1+3q2. Then, the expression for this firm's profit
function is?
A) Profit(a)=pq-6q.
B) Profit(a)=pg-1-q?.
C) Profit(a)=pq-1-3q?.
D) Profit(a)=pg-1-6q.
E) Profit(a)=pg-3q?.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F6ef0991c-54fc-47da-8705-c2c785e14f88%2F8a7a4286-ed30-4de3-8021-36f84662f7b6%2F37ulvf1_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Suppose that the a firm's cost function is given by: C(q)=1+3q2. Then, the expression for this firm's profit
function is?
A) Profit(a)=pq-6q.
B) Profit(a)=pg-1-q?.
C) Profit(a)=pq-1-3q?.
D) Profit(a)=pg-1-6q.
E) Profit(a)=pg-3q?.
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