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Supply and Demand with Total Profit

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Assuming that a competitive firm has the total cost function:

TC = 1q3 - 40q2 + 710q + 1700

and suppose the price of the firm's output (sold in integer units) is $550 per unit.

Use tables (but not calculus) to find a solution and answer what is the total profit at the optimal output level, with an answer specified as an integer?

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https://brainmass.com/math/consumer-mathematics/supply-demand-total-profit-584417

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Answer to 584417
Assuming that a competitive firm has the total cost function:

TC = 1q3 - 40q2 + 710q + 1700

and suppose the price of the firm's output (sold in integer units) is $550 per unit.

Use tables (but not calculus) to find a solution and answer what is the total profit at the optimal output level, ...

Solution Summary

This solution offers step-wise calculation to show the total profit at optimal output levels, for a firm, given it's total cost function.

$2.19