Math Solutions

(All Steps) Let a quarry’s cost function of producing Q tons of stone per hour be given by TC=Q^3-10Q^2+40Q+25 Find the formula for the quarry’s short-run

Question: Let a quarry’s cost function of producing Q tons of stone per hour be given by \(TC={{Q}^{3}}-10{{Q}^{2}}+40Q+25\)

  1. Find the formula for the quarry’s short-run supply curve and draw its detailed graph. Explain your solution. Specifically, determine MC, AVC and the intersection point of MC and AVC.
  2. If market price of a ton of stone is $28, how much will the quarry’s manager be willing to produce per hour in the short run? Calculate per hour profit.

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Solution: The downloadable solution consists of 2 pages
Deliverable: Word Document


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