Find the formula for the quarrys short-run supply curve, Managerial Accounting

Let a quarry's cost function of producing Q tons of stone per hour be given by TC = Q3- 10Q2+ 40Q + 25, so that marginal cost function is MC= 3Q2- 20Q + 40.

(i) Find the formula for the quarry's short-run supply curve and draw its detailed graph. Explain your solution.

(ii) If market price of a ton of stone is $28, how much will the quarry's manager be willing to produce per hour in the short run? Calculate per hour profit.

Posted Date: 5/6/2013 1:22:59 AM | Location : United States







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