Suppose a firm is operating under a competitive market conditions and the going price for its;product is $260. If the firm?s short run Total Variable Cost (TVC) function is;TVC = 80Q ? 6Q2 + 0.2Q3;Total fixed is cost = $1000;What is the firm?s profit maximizing output? How much profit will the firm make?
Paper#21296 | Written in 18-Jul-2015Price : $27