The total cost C(q) of producing q goods is given by: C(q)=0. 01q3−0. 6q2+14q What is the fixed cost? fixed cost = 0 dollars What is the maximum profit if each item is sold for 6 dollars? (Assume you sell everything you produce. ) maximum profit = 30. 7 dollars Suppose we fix production at 32 goods produced, and that they all sell when the price is 6 dollars each. Also suppose that for each 1 dollar increase in price, 2 fewer goods are sold (so if the price is 7 dollars, 30 of the 32 goods being produced are sold. ) To maximize profit in this case, we should increase the price by 30. 72 dollars. (Enter zero if the price should remain at 6 dollars. )
