Produce to maximize its short-run profits

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Assume XYZ Company produces table and chairs with the following total cost function, TC=10,000+10Q+0.1Q2, where Q=quantity of chairs produced. The marginal cost (MC) is equal to 10 + 0.2Q. If XYZ Company can sell as many chairs it wishes at the current market price of $45, how many chairs should it produce to maximize its short-run profits?

Reference no: EM13860826

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