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The demand function for a good is given by the equation P = a bQ while the total cost function is TC = dQ 2
The demand function for a good is given by the equation P = a bQ while the total cost function is TC = dQ2 + eQ + f, where a, b ,d ,e and f are positive constants.
(a) Derive the equation for profit.
(b) Derive an expression for the value of Q for which profit is maximized.
(2) For the f(x)= x3 + 3x + 6, determine the coordinates of the turning point(s) and any point(s) of inflection, if they exist.
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