Question
The total revenue and total cost for a product are related to production, x by: TR = 14x - x 2 +2000 TC = x
The total revenue and total cost for a product are related to production, x by:
TR = 14x - x2 +2000
TC = x3 - 15x2 + 1000
Please find How many units should the company make to:
a. Maximize total revenue
b. Minimize total cost
c. Maximize profit
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Managerial Economics and Strategy
Authors: Jeffrey M. Perloff, James A. Brander
1st edition
978-0137036059, 133379094, 321566440, 137036051, 9780133379099, 978-0321566447
