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Short run total cost function

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Reference no: EM132072617

Short run total cost function is TC = 200 + 10Q + 0.1Q2.

Marginal revenue is $500 for each unit.

What is the profit maximizing quantity to produce? (Hint: solve for MC = MR or MC = $500 using your derived MC function.)

My answer was 2,150. Is this correct?

Short-run total cost function is TC = 200 + 10Q + 0.1Q2.

Marginal revenue is $500 for each unit.

What rounded value is closest to the maximum profit at the optimal profit maximizing quantity?

My answer was. $500,000. Is this correct?

Reference no: EM132072617

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