Answer to Question #16751 in Microeconomics for Akvile

Question #16751

TC= 0.04Q^2+15Q
P= 75 -1/75Q
Calculate the profit-maximizing quantity.

Expert's answer

To estimate profit-maximizing quantity we need to reach MC=MR
MC is first derivative from TC
MC=0.08Q+15
MC=P
0.08Q+15=75-1/75Q
0.09333Q=60
Q=65

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