PLEASE actually read my question. Thank you! Price = 4.2 Total Cost = 40 + .1Quantity^2 - .2Quantity Marginal Cost = .2Q
Posted: Wed Jul 06, 2022 5:55 am
PLEASE actually read my question. Thank you!
Price = 4.2
Total Cost = 40 + .1Quantity^2 - .2Quantity
Marginal Cost = .2Quantity - .2
I got 22 as the quantity to maximize profit.
HOWEVER, if consumer income decreases, what is the new quantityto produce and what would the profit be?
How would you figure out what the new quantity would be?
Price = 4.2
Total Cost = 40 + .1Quantity^2 - .2Quantity
Marginal Cost = .2Quantity - .2
I got 22 as the quantity to maximize profit.
HOWEVER, if consumer income decreases, what is the new quantityto produce and what would the profit be?
How would you figure out what the new quantity would be?