Let x denote the level of output of a firm’s production process. The cost function is given by C (x) = x(x +1)+120 and the demand function of the product by x =1000 - 2p. (a) Compute profit E(x). (b) Find the output x at which profit is maximized. Please answer both subparts. I will really upvote. Thanks

Microeconomic Theory
12th Edition
ISBN:9781337517942
Author:NICHOLSON
Publisher:NICHOLSON
Chapter2: Mathematics For Microeconomics
Section: Chapter Questions
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Let x denote the level of output of a firm’s production process. The cost function is given by C (x) = x(x +1)+120 and the demand function of the product by x =1000 - 2p.

(a) Compute profit E(x).

(b) Find the output x at which profit is maximized.

Please answer both subparts.

I will really upvote. Thanks

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