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How many boxes should beta produce

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Beta Industries manufactures USB memory sticks that consumers perceive as identical to those produced by numerous other manufacturers. Recently, Beta hired an economist to estimate its short-run cost function for producing boxes of one dozen USB sticks. The estimated total cost function is given by: TC: 1000 + 2q2, where q is the number of boxes produced. Accordingly, marginal cost is MC=4q. If the market price of a box of USB stick is $100, how many boxes should Beta produce and sell in the short-run? How much profit will Beta earn at this quantity?

Reference no: EM131974164

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