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Author Question: Suppose a farmer is a price taker for soybean sales with cost functions given by TC = .1q2 + 2q + 30 ... (Read 106 times)

saliriagwu

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  • Posts: 537
on: Jul 1, 2018
Suppose a farmer is a price taker for soybean sales with cost functions given by TC = .1q2 + 2q + 30 MC = .2q + 2 The profit maximizing level of output is
 a. 0
  b. 30
  c. 40
  d. 50

Question 2

Suppose a farmer is a price taker for soybean sales with cost functions given by TC = .1q2 + 2q + 30 MC = .2q + 2 If P = 6 the profit-maximizing level of profits is
 a. 10
  b. 20
  c. 30
  d. 10


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meryzewe

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Reply #1 on: Jul 1, 2018
Answer to Question 1

c

Answer to Question 2

a


saliriagwu

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  • Posts: 537
Reply 2 on: Jul 1, 2018
Thanks for the timely response, appreciate it

carlsona147

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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