Need Help Graphing The Profit 1 (71.17 KiB) Viewed 28 times
Ex 1. Suppose you are the manager of a watchmaking firm operating in a competitive market. You cost of production is given by Ca 29 200, where q is the level of output and C is the total cost. (MC=49)
g. If the price of watches is $100, how many watches should you produce to maximize profit? What is the profit? TC = 2q2 +2.00 Profit=Pqc Mc = 49 P=100 P=1002 - 200 -2,2 ૧ = Pi=100.44-0-0 lood =25 maximum profit = 100225) -200 - 2 (25)? -200 - 1250 = $1050 h. Graphically show the profit obtained in part g (you can show profit on the graph in part b) 2500
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