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Optimal profit maximizing quantity

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Reference no: EM133125643

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, which rounded value below is closest to your maximum profit at the optimal profit maximizing quantity? (Hint, solve for TR = P*Q and solve for TR using total cost function and your optimal Q)

Reference no: EM133125643

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