What is total profit at the optimal output level

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Reference no: EM133224152

Assume that a competitive firm has the total cost function:

TC=1q3-40q2+820q+1900

Suppose the price of the firm's output (sold in integer units) is $600 per unit.

Create tables (but do not use calculus) with columns representing cost, revenue, and profit to find a solution.

1. How many units should the firm produce to maximize profit?

2. What is the total profit at the optimal output level?

Reference no: EM133224152

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