Suppose that Quality Widgets Limited is an efficient small firm with cost functionC(q)=q3 - 10q2+100q + 196 and suppose also that the maximum level of weekly production is L=10. Determine:(d) their breakeven point, (e) their supply set.

Suppose that Quality Widgets Limited is an efficient small firm with cost functionC(q)=q3 - 10q2+100q + 196 and suppose also that the maximum level of weekly production is L=10. Determine:(d) their breakeven point, (e) their supply set.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

Suppose that Quality Widgets Limited is an efficient small firm with cost functionC(q)=q³ - 10q²+100q + 196 and suppose also that the maximum level of weekly production is L=10. Determine:(d) their breakeven point, (e) their supply set.

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