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28 Sep 2019
In a fake economy with small quantities, a corn farm has costfunction C = 10 + Q2 and the farm can sell corn at themarket price of $8 per bushel. ('Q' is 'bushels of corn.') The firmmust sell an integer amount of bushels of corn. Calculateprofit-maximizing values of these: (Show your calculations toreceive credit for your answers)
a) quantity
b) total profits
c) average fixed cost
In a fake economy with small quantities, a corn farm has costfunction C = 10 + Q2 and the farm can sell corn at themarket price of $8 per bushel. ('Q' is 'bushels of corn.') The firmmust sell an integer amount of bushels of corn. Calculateprofit-maximizing values of these: (Show your calculations toreceive credit for your answers)
a) quantity
b) total profits
c) average fixed cost
Tod ThielLv2
28 Sep 2019