A farmer is producing strawberries in a perfectly competitive market. His cost function is given by
c(y)= y^2 + 1000
c) Where will the farm maximize profits if the price for a kg of strawberries is R160.
![]() |
A farmer is producing strawberries in a perfectly competitive market. His cost function is given by
c(y)= y^2 + 1000
c) Where will the farm maximize profits if the price for a kg of strawberries is R160.
I assume y is the number of kg produced or sold.
Thus, R=160y
Remember, P=R-C
Profit=Revenue-Cost
Thanks so much for your help!
All times are GMT -7. The time now is 03:54 AM. |