Question
Using the revenue function R(q) = 510q and the cost function C(q) = 9400+3q2. Round your answers to the nearest whole number.
a) At what quantity is profit maximized?
q =
b) What is the total profit at this production level?
profit = $
a) At what quantity is profit maximized?
q =
b) What is the total profit at this production level?
profit = $
Answers
profit P(q) = R(q)-C(q), so
P(q) = 510q - (9400+3q^2)
dP/dq = 510 - 6p
P is maximized when dP/dq = 0, so ...
P(q) = 510q - (9400+3q^2)
dP/dq = 510 - 6p
P is maximized when dP/dq = 0, so ...
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