Question
Commodity Inc. operates in a competitive market. Its total cost of production is given by
TC = 800 + 18
Q + 2
Q2, and thus its marginal cost is
MC = 18 + 4
Q. The market price is currently
P = $54. In the short run, the volume of output that maximizes Commodity Inc.'s profits is Answer
Q = 18
Q = 0
Q = 54
Q = 9 Commodity Inc. operates in a competitive market. Its total cost of production is given by
TC = 800 + 18
Q + 2
Q2, and thus its marginal cost is
MC = 18 + 4
Q. The market price is currently
P = $54. In the short run, the volume of output that maximizes Commodity Inc.'s profits is
Q = 18
Q = 0
Q = 54
Q = 9
Q = 18
Q = 0
Q = 54
Q = 9
Explanation / Answer
Q= 54
Q= 54