A Firm Can Produce 100 Units Per Week $C = 600 + 1200 x$

question 12

Multiple Choice

A firm can produce 100 units per week. If its total cost function is $C = 600 + 1200 x$ dollars, and its total revenue function is $R = 1300 x - x ^ { 2 }$ dollars, how many units x should it produce to maximize its profit?

• A)1250 units
• B)650 units
• C)93 units
• D)50 units
• E)100 units

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Definitions:

Real GDP

Gross Domestic Product adjusted for inflation, measuring the value of all final goods and services produced within a country's borders in a specific time period, expressed in base-year prices.

Growth Rate

The rate at which a company's sales or revenues increase over a specified time period.

Catch-Up Growth

The process by which a country or economy grows rapidly in order to close the gap with more developed economies.

GDP Per Person

A measure of a country's economic output that accounts for its population, calculated by dividing the GDP by the total population.