5. Profit maximization: Imagine you are Aegor Rivers, founder of the elite mercenary band known as The Golden Company. Armies around the world all know your mercenaries by their golden banners and the signature elephants that they ride into battle. Your faction wages battle for 6 pounds of gold (P=6), while your men receive 3 pounds per day that they fight (w=3). You 'produce' battles at a rate of Q=f(E)=6E¹/2. What is the optimal number of days that your men should fight in the upcoming war (E*)? a. 6 days b. 18 days c. 36 days d. 40 days e. None of the above. F FOCUS

5. Profit maximization: Imagine you are Aegor Rivers, founder of the elite mercenary band known as The Golden Company. Armies around the world all know your mercenaries by their golden banners and the signature elephants that they ride into battle. Your faction wages battle for 6 pounds of gold (P=6), while your men receive 3 pounds per day that they fight (w=3). You 'produce' battles at a rate of Q=f(E)=6E¹/2. What is the optimal number of days that your men should fight in the upcoming war (E*)? a. 6 days b. 18 days c. 36 days d. 40 days e. None of the above. F FOCUS

ECON MICRO

5th Edition

ISBN:9781337000536

Author:William A. McEachern

Publisher:William A. McEachern

Chapter7: Production And Cost In The Firm

Section: Chapter Questions

Problem 1.3P

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