Watch making firm in a competitive market

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Reference no: EM13742730

Suppose you are a manager of a watch making firm in a competitive market. Your cost of production is given by C=200+2Q² where Q is the level of output and C is the total cost.

The marginal cost is 4Q, and the fixed cost is $200.

If the price of watches is $100, how many watches should you produce to maximize profit?

What will profit be?

At what minimum price will the firm produce a positive output?

Reference no: EM13742730

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