Solution-What is the profit at the optimal output level

What is the profit at the optimal output level

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Reference no: EM131691947

Suppose that you can sell as much of a product (in integer units) as you like at $62 per unit. Your marginal cost (MC) for producing the qth unit is given by:

MC=6qMC=6q

This means that each unit costs more to produce than the previous one (e.g., the first unit costs 6*1, the second unit (by itself) costs 6*2, etc.).

If fixed costs are $70, what is the profit at the optimal output level?

Please specify your answer as an integer.

Reference no: EM131691947

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What is the profit at the optimal output level

Reference no: EM131691947

Reference no: EM131691947

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