Solution-Estimate the short-run total cost function

Estimate the short-run total cost function

Reference no: EM133124343

Suppose you estimate the short-run total cost function to be TC = 200 + 10Q + 0.1Q2.

Also, suppose you can sell every unit produced at a $500 price so you have a marginal revenue of $500 for each unit.

If so, what is your profit maximizing quantity to produce? (Hint: solve for MC = MR or MC = $500 using your derived MC function.)

Reference no: EM133124343

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Estimate the short-run total cost function

Reference no: EM133124343

Reference no: EM133124343

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