Sandra has a short-run cost function of producing good 1 of c(q) = 4q² + 40 where q is the quantity of good 1 produced. If she received a price of $24 for each unit of good 1 sold, what is Sandra's profit-maximising level of profit assuming that the market is perfectly competitive?

ENGR.ECONOMIC ANALYSIS
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Chapter1: Making Economics Decisions
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Sandra has a short-run cost function of producing good 1 of c(q) = 4q² + 40,
where q is the quantity of good 1 produced. If she received a price of $24
for each unit of good 1 sold, what is Sandra's profit-maximising level of
profit assuming that the market is perfectly competitive?
O $42
O $12
O -$8
Transcribed Image Text:Sandra has a short-run cost function of producing good 1 of c(q) = 4q² + 40, where q is the quantity of good 1 produced. If she received a price of $24 for each unit of good 1 sold, what is Sandra's profit-maximising level of profit assuming that the market is perfectly competitive? O $42 O $12 O -$8
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