Price = 4.2 Total Cost = 40 + .1Quantity^2 - .2Quantity Marginal Cost = .2Quantity - .2 I got 22 as the quantity to maxi
Posted: Wed Jul 06, 2022 5:55 am
Price = 4.2
Total Cost = 40 + .1Quantity^2 - .2Quantity
Marginal Cost = .2Quantity - .2
I got 22 as the quantity to maximize profit. HOWEVER, ifconsumer income decreases, how would you figure out what the newquantity to produce would be and what the new profit would be?
Total Cost = 40 + .1Quantity^2 - .2Quantity
Marginal Cost = .2Quantity - .2
I got 22 as the quantity to maximize profit. HOWEVER, ifconsumer income decreases, how would you figure out what the newquantity to produce would be and what the new profit would be?