Jorge owns a small coffee shop. The market in which Jorge’s business operates is perfectly competitive,...
Jorge owns a small coffee shop. The market in which Jorge’s business operates is perfectly competitive, and the market price of a cup of coffee is $2. Jorge’s cost function is TC=0.01q^2+q+5 and his marginal cost is MC=0.02q+1
How many cups of coffee should Jorge produce to maximize his profit?
What will be Jorge’s maximum profit?
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Jorge owns a small coffee shop. The market in which Jorge’s
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