Suppose That TC = 2Q³ - 18Q² + 100Q

question 12

Multiple Choice

Suppose that TC = 2Q³ - 18Q² + 100Q + 50. If the market price is 32, how much output will the firm produce to maximize profit?

• A)10
• B)6
• C)8
• D)0

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Definitions:

Liabilities

Financial obligations or debts that a business owes to external parties.

Owner's Equity

The residual interest in the assets of a business after deducting liabilities, representing the owner's claim against the company's assets.

Ratio

A quantitative relationship between two numbers, showing how many times one value is contained within another.

Liabilities

Financial obligations or debts that a business owes to others, which must be paid back in the future.