Assume SeatComfy Inc

question 23

Multiple Choice

Assume SeatComfy Inc.manufactures table and chairs with the following total cost function,TC = 10,000 + 10Q + 0.1Q²,where Q = quantity of chairs produced.If SeatComfy can sell as many chairs as it wishes at the current market price of $45,how many chairs should it produce to maximize its short-run profits?

• A)350
• B)700
• C)175
• D)45

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Definitions:

Unauthorized Acts

Actions taken by an individual or entity without legal or official approval, which may be illegal or against regulatory standards.

Undisclosed Principal

In agency law, a principal whom a third party lacks knowledge or the reason to know the principal’s existence and identity.

Unidentified Principal

In agency law, a principal whom a third party knows or has reason to know exists but who lacks knowledge or reason to know the principal’s identity.

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Refers to an entity or agreement that has no recognition or validity under the law.