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Q= Quantity = 500 - Price so P = Price = 500 - Q. There is a fixed cost of 30,000 and a marginal cost of 100 *Q. Please help me find max price and quantity. My hunch is that

Max Price = 496
Max Quantity = 4
Profit = 1984

2006-11-08 01:49:26 · 1 answers · asked by The One Truth 4 in Social Science Economics

1 answers

P= 500-Q
P= (30000+100Q)/Q
(500-Q)Q=30000+100Q
Q²-500Q+100Q+30000=0
Q²-400Q+30000=0
Solve to get solution

2006-11-08 02:01:13 · answer #1 · answered by wineasy03 6 · 0 0

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