Asked by Mariam Jaser on May 27, 2024
Verified
Suppose that Dent Carr's long-run total cost of repairing s cars per week is c(s) 3s2 75.If the price he receives for repairing a car is $36, then in the long run, how many cars will he fix per week if he maximize profits?
A) 0
B) 12
C) 9
D) 6
E) 18
Total Cost
The entire cost of production for a business, including both fixed (unchanging with output) and variable (changing with output) expenses.
Long-Run
A period in economics during which all factors of production and costs are variable, allowing all inputs to be adjusted to change the level of output.
Maximize Profits
The strategy or process aimed at making the highest possible profit from business operations.
- Grasp the interplay between costs, prices, and supply over the long run in economic models.
- Compute the best amount of items to manufacture or fix to ensure maximum profit over time, according to specific cost and revenue figures.
Verified Answer
Learning Objectives
- Grasp the interplay between costs, prices, and supply over the long run in economic models.
- Compute the best amount of items to manufacture or fix to ensure maximum profit over time, according to specific cost and revenue figures.
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