Daniel's Artworks faces a short-run total cost of production given by: - TC = Q³ – 12Q² + 100Q + 1000, where Q is number of artworks produced per day. Daniel's marginal cost of producing artworks is: 3Q² – 24Q + 100. If the artworks sell for $60 per artwork, how many artworks should Daniel produce?

Daniel's Artworks faces a short-run total cost of production given by: - TC = Q³ – 12Q² + 100Q + 1000, where Q is number of artworks produced per day. Daniel's marginal cost of producing artworks is: 3Q² – 24Q + 100. If the artworks sell for $60 per artwork, how many artworks should Daniel produce?

Economics:

10th Edition

ISBN:9781285859460

Author:BOYES, William

Publisher:BOYES, William

Chapter22: Supply: The Costs Of Doing Business

Section: Chapter Questions

Problem 16E

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