Firm profit maximizing output-competitive market, Macroeconomics

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Firm profit maximizing output-competitive market

Suppose a firm is operating under a competitive market conditions and the going price for its product is $260. If the firm's short run Total Variable Cost (TVC) function is

TVC = 80Q - 6Q2 + 0.2Q3
Total fixed is cost = $1000

What is the firm's profit maximizing output? How much profit will the firm make?

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Macroeconomics: Firm profit maximizing output-competitive market

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Request for Solution File

Ask an Expert for Answer!!

Macroeconomics: Firm profit maximizing output-competitive market

Reference No:- TGS069658

Have a Question? (oR Write a Review)

Recent Questions Asked Macroeconomics

Q : Masset break-even point in units

Q : Implications for economic analysis

Q : Inventory of units on hand at the end of month

Q : Budgeted sales revenue for the third quarter

Q : Firm profit maximizing output-competitive market

Q : Maximum profit that firm can generate at output level

Q : Prepare a schedule to show the balance

Q : Company balance sheet at the end of the month

Q : Marginal revenue function for the firm

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Request for Solution File

Ask an Expert for Answer!!

Macroeconomics: Firm profit maximizing output-competitive market

Reference No:- TGS069658

Recent Questions Asked Macroeconomics

Q : Masset break-even point in units

Q : Implications for economic analysis

Q : Inventory of units on hand at the end of month

Q : Budgeted sales revenue for the third quarter

Q : Firm profit maximizing output-competitive market

Q : Maximum profit that firm can generate at output level

Q : Prepare a schedule to show the balance

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