(Answered) Total costsnbspfor a firm are given bynbsptc

Management Studies

Total Costs for a firm are given by: TC = 1Q² + 10Q.

Marginal Costs for that same firm are given by: MC = 2*1Q + 10.

If this firm is operating in a perfectly competitive environment and is a price-taker, what would their total profits be if the market price was $30.9?

Hint: Remember the firms produce where MC = P. Their revenue is P*Q, and profits are revenue minus total costs.

Round your answer to two decimal places. Do not include a $ sign.

View complete question

Business Management, Management Studies

Category:- Business Management
Reference No.:- M92504074
Price:- $20

Verified Expert

Priced at $40 Now at $20, Verified Solution

Have any Question?Write your Review or question?

Related Questions in Business Management

Effective human resources professionals have a solid

Effective human resources professionals have a solid understanding of the changing nature of work and the workplace. Compare and contrast the evolution of work and the workplace over the past 20 years and how it has impa ...

What is marginal revenue for both perfect competition and

What is Marginal Revenue? For both Perfect Competition and Monopoly, explain the relationship between marginal revenue and demand.

Describe what is project management and give example of

Describe what is project management and give example of elements of project management, which were helpful during the completion of project.

Overall do you think globalization is positive or negative

Overall, do you think globalization is positive or negative? Does it increase standards of living around the world, or suffocate other cultures under an onslaught of Big Macs and Coca Cola?

Read the news at the following web Read the news at the following web site.

Read the news at the following web site. https://www.npr.org/sections/thetwo-way/2018/01/30/581804474/amazon-berkshire-hathaway-and-jpmorgan-chase-launch-new-healthcare-company (Links to an external site.)Links to an ext ...

Leaders who recognize perceptual distortions can adjust

Leaders who recognize perceptual distortions can adjust their perceptions to match objective reality?

With respect to your use of the internet have you ever

With respect to your use of the Internet, have you ever taken a speculative risk? If yes, what was it? If no, would you ever consider taking it?

Knowledge and information management4000 wordsthe harvard

Knowledge and Information Management 4000 WORDS The Harvard Referencing System must be used. The Wikipedia website must not be referenced in this work. This assignment has to show that the student: 1. Demonstrates an und ...

Analyze the given charted data to make an informed

Analyze the given charted data to make an informed management decision related to the case study. Support your decision by referencing the data.

What are the best practices a firm should follow to better

What are the best practices a firm should follow to better ensure compliance with US export controls?

4,153,160 Questions Asked
13,132 Experts
2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Recent Questions

Ask Business Management Expert