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Maximizing your profits

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Please help with the following problems. Provide step by step calculations for each.

The yearly cost of producing computers is: C(Q) = 20,000 + 2Q2 , where 'Q' represents the number of computer systems produced.
Marginal Cost (MC) = 4Q
Yearly demand for computers is: Q = 1,000 - P, where 'P' represents the selling price of a computer system.
Marginal Revenue (MR) = 1000 - 2Q

1) How many PC's should you produce to maximize profits? Show your work
2) If you change the profit maximizing price, what is the profit / loss?
3) How much does the last unit you produce cost you to make?

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Solution Summary

The following posting helps with economics problems. These include questions about maximizing profits and calculating units to produce costs. Step by step calculations are given for each problem.

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Maximize profits
The yearly cost of producing computers is: C(Q) = 20,000 + 2Q2 , where 'Q' represents the number of computer systems produced.
Marginal Cost (MC) = 4Q
Yearly demand for computers is: Q = 1,000 - P, where ...

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