Q38
A mining industry has the following total cost and total revenue functions: Total cost = TC = 50 + 100q - 6q2 + 1/3 q3 Total revenue = TR = 64q Where q is the output of mine in tonne/day The profit will be maximized for what level of production?
A mining industry has the following total cost and total revenue functions:
Total cost = TC = 50 + 100q - 6q2 + q3
Total revenue = TR = 64q
Where q is the output of mine in tonne/day
The profit will be maximized for what level of production?
Total cost = TC = 50 + 100q - 6q2 + q3
Total revenue = TR = 64q
Where q is the output of mine in tonne/day
The profit will be maximized for what level of production?
A.
4
B.
6
AnswerC.
8
D.
10
Answer: Option B
Solution
Answer: Option B
No explanation is given for this question Let's Discuss on Board