Marketplace is highly competitive with box currently selling

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Reference no: EM1317878

Q1. Conigan Box Company produces cardboard boxes that are sold in bundles of 1000 boxes. The marketplace is highly competitive, with boxes currently selling for $100 every thousand. Conigan's total and marginal cost curves are:
TC = 3,000,000 + 0.001Q2
MC = 0.002Q

Q2. Using the mr=mc approach determine profit maximizing or loss minimizing output when price equals $60, $29 and $21 Illustrate what would the output equal and profit/loss for each price?

Reference no: EM1317878

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