
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN: 9780190931919
Author: NEWNAN
Publisher: Oxford University Press
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Transcribed Image Text:You're running a small firm, and you have an estimate of both your cost function and your demand curve. Your cost function is TC-791-12q+3q^2, while your inverse demand
curve is P=1,088-0.1q, where P is the price of one unit of your output and q is the quantity of units produced and sold.
If you wanted to maximize profit, what quantity would you produce? Please round your answer to the nearest whole number (i.e., no decimal places).
Type your answer.
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