Diesel Dan is a contract truck driver. While his revenue is $2 per mile driven, the faster he drives, the greater the risk of a speeding ticket. The cost of driving his truck 1 hour at a speed of S miles per hour is C(S) =
. To maximize his profit, Dan should drive
A) 65.69 miles per hour.
B) 65 miles per hour.
C) 70.38 miles per hour.
D) 67.08 miles per hour.
E) 74.53 miles per hour.
Correct Answer:
Verified
Q37: The production function is given by f(x)
Q38: A competitive firm's production function is f(x1,
Q39: A competitive firm uses a single input
Q40: When Farmer Hoglund applies N pounds of
Q41: Philip owns and operates a gas station.
Q43: If the short-run marginal costs of producing
Q44: During the height of the pet rock
Q44: Diesel Dan is a contract truck driver.
Q45: Philip owns and operates a gas station.
Q47: A competitive firm has a production function
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents