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Suppose a company's revenue function is given by R(q)=-q^3+340q^2 and it's cost function is given by C(q)=320+12q, where q is hundreds of units sold/produced, while
Suppose a company's revenue function is given by R(q)=-q^3+340q^2 and it's cost function is given by C(q)=320+12q, where q is hundreds of units sold/produced, while R(q) and C(q) are in total dollars of revenue and cost, respectively.
A)Find a simplified expression for the marginal profit function. Use the proper variable.
MP(q)=_____
B)How many items (in hundreds) need to be sold to maximize profits?
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