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 = $

Answer 1

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 ...