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    Economics - Ohter - Maximum Profit

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    A steel producer has the following total cost:

    TC = $187,500 + $5Q + $0.0003Q^2.
    Q = tons of steel produced per month.

    Calculate the firm's maximum profit if steel price is stable at $20 ton.

    © BrainMass Inc. brainmass.com October 9, 2019, 10:12 pm ad1c9bdddf
    https://brainmass.com/economics/macroeconomics/economics-maximum-profit-problem-212067

    Solution Preview

    MC(Q) = Derivative of TC(Q) with respect to Q = 5 + 0.0006Q

    For a competitive firm, the maximum ...

    Solution Summary

    This solution helps calculate the firm's maximum profit if steel price is stable at $20 ton. A Complete, Neat and Step-by-step Solution is provided.

    $2.19