Suppose you are the manager of a watchmaking firm operating in a competitive market. Your cost of production is given by Cequals400plus2q squared , where q is the level of output and C is total cost. (The marginal cost of production, MC (q) , is 4 q; the fixed cost, FC, is $400 ). If the price of a watch is $80 , how many watches should you produce to maximize profits?
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