For each set of the following total revenue and total cost functions, first express profit as
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For each set of the following total revenue and total cost functions, first express profit π as a function of output x and then determine the maximum level of profit by finding the vertex of the parabola:
(a) TR = −6x2 + 1200x, TC = 180x + 3350
(b) TR = −4x2 + 900x, TC = 140x + 6100
(c) TR = −7x2 + 4100x, TC = 600x + 12,500
(d) TR = −9x2 + 6600x, TC = 660x + 19,600
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Related Book For
Schaum S Outline Of Mathematical Methods For Business Economics And Finance
ISBN: 978-1264266876
2nd Edition
Authors: Luis Moises Pena Levano
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