Teddy J is a manufacturer of dish washing liquid . If his monthly demand function for 750ml size is q = 4000 − 250p and his total cost function is C(q) = 500 + 0.2q. (i) Derive an expression, R(q) for Teddy J ′ s total revenue curve. (ii) Derive an expression, Π(q) for Teddy J ′ s profit function. (iii) Determine whether Teddy J′s profit is increasing or decreasing when he produces 5 hundred, 750ml bottles of dish washing liquid

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Q: (a) Teddy J is a manufacturer of dish washing liquid . If his monthly demand function for 750ml size…

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Q: (a) Teddy J is a manufacturer of dish washing liquid . If his monthly demand function for 750ml size…

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Differential Equations

Have you ever observed the movement of the satellites and rockets or how the planets go around the sun in their orbits? How will you determine their motion? Definitely they follow some scientific laws and these kinds of problems are framed as differential equations.