Calculate the firms maximum daily profits

Reference no: EM13239709

Suppose a firm producing a commodity X is a price taker. The prevailing market price for X is Php. 20. The firm's cost is given by TC=(0.1q^2)+10q+50 where q=the number of X the firm chooses to produce per day.

a. How many X should the firm choose to produce in order to maximize profits?

b. Calculate the firm's maximum daily profits.

Reference no: EM13239709

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