A price-taking firm's variable cost function is C = Q3, where Q is the output per week. It has an avoidable fixed cost of $2,000 per week. Its marginal cost is MC = 3Q2. What is the profit maximizing output if the price is P = $192?
A. 0
B. 6
C. 8
D. 10
A. 0
You might also like to view...
Describe how the level of U.S. military expenditures has varied as a percentage of GDP since 1945 . Provide a brief discussion of what caused the level of military expenditures to vary over the years
What will be an ideal response?
What types of transactions count as debits in the balance of payments? What types of transactions count as credits? Give examples
The two big problems facing insurance companies in trying to manage risk are:
A. adverse selection and moral hazard. B. moral hazard and diversification. C. risk pooling and diversification. D. risk pooling and adverse selection.
In a two-sided market, a firm that provides services that link together groups of consumers and producers is called a(n)
A. end user. B. platform. C. tit-for-tat. D. monopoly.