Question
Suppose the revenue and cost function of a firm is given by R(Q) =1200Q - 2Q^2 C(Q) = Q^3 -61.25Q2+1528.5Q+2000 Find the profit maximizing level
Suppose the revenue and cost function of a firm is given by R(Q) =1200Q - 2Q^2 C(Q) = Q^3 -61.25Q2+1528.5Q+2000
Find the profit maximizing level of Q. How can you tell that this a local maximum? Calculate the total profit at the optimal level of output.
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Managing in a Global Economy Demystifying International Macroeconomics
Authors: John E. Marthinsen
2nd edition
128505542X, 978-1305176157, 1305176154, 978-1285055428
