Solved

A Price-Taking Firm's Variable Cost Function Is C = Q3,where

Question 1

Multiple Choice

A price-taking firm's variable cost function is C = Q3,where Q is the output per week.It has an avoidable fixed cost of $1,024 per week.Its marginal cost is MC = 3Q2.What is the profit maximizing output if the price is P = $192?


A) 0 or 5.33 or 8
B) 5.33 or 8
C) 0 or 5.33
D) 0 or 8

Correct Answer:

verifed

Verified

Related Questions

Unlock this Answer For Free Now!

View this answer and more for free by performing one of the following actions

qr-code

Scan the QR code to install the App and get 2 free unlocks

upload documents

Unlock quizzes for free by uploading documents