Determine the price and output of Book Shelves which NFM should sell which will maximize profits in the short-run
P = 925 – 6 Q Where P = Price of Book Shelves and Q = number of Book Shelves sold per month The consultant further estimates the Total Cubic Cost function as TC = 25,000 + 25 Q – 6 Q2+ 1/3Q3 Given these equations, (a) Determine the price and output of Book Shelves … Read more