If the total cost function for a perfectly competitive firm is TC=50+10q-q2+(1/3)q3 and the market price is $130, total revenue at the profit maximizing level of output is _____________ and total profit is ________________.

0 votes
    $1,560; $958
     $2,600; $83
     $1,300; $917
     There is not enough information given to determine the profit maximizing output level.
asked Jun 2, 2013 in Economics by anonymous
    

1 Answer

0 votes
$1,560; $958
answered Jun 3, 2013 by Xyz ~Expert~ (3,650 points)

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