How many crates of grapes will it produce in a typical month

Reference no: EM13198820

A firm called Altobella Vineyard produces Concord grapes in a perfectly competitive market in which monthly demand is given by the equation Q = 1800 - 16P and monthly supply by the equation Q = -660 + 14P, where P is the price per crate of grapes and quantities are in crates per month. Altobella incurs monthly total costs according to the function TC = 361 + 20q + q178; and monthly marginal costs according to the function MC = 20 + 2q, where q is the quantity of grapes produced by Altobella. Assuming Altobella is a profit-maximizer, how many crates of grapes will it produce in a typical month?

Reference no: EM13198820

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