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denny is in the car repair business. Denny recently calculated his total cost conditions. He found that the total cost of repairing s cars is TC(s)=2s^2+10

If the market price is $20, how many cars will Denny be willing to repair?



Answer :

When the market price is $20, the number of cars that Denny will be willing to repair is 5 cars.

How to calculate the value?

It should be noted that the total revenue will be:

= price × quantity

= 20 × s

= 20s

where s = number of cars

The marginal revenue will be 20.

The total cost is given as:

= 2s² + 10

The marginal cost will be 4s

We will equate the marginal. This will be:

4s = 20

Divide

s = 20/4

s = 5

Therefore, the number is 5.

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