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Suppose a company's revenue function is given by R[q) = q3 + 270q2 and its cost function is given by C(q) = 540 | 14g,
Suppose a company's revenue function is given by R[q) = q3 + 270q2 and its cost function is given by C(q) = 540 | 14g, where q is hundreds of units soldfproduced, while R(q) and C(q) are in total dollars of revenue and cost, respectively. A]: Find a simplified expression for the Mginal profit function. {Be sure to use the proper variable in your answer.) MPW) = i ' B) How many items (in hundreds) need to be sold to maximize profits? Answer: hundred units must be sold. (Round to two decimal places.)
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