The total revenue curve of a firm is R(q) = 40q – 12q² and its average cost A(q) =q? – 12.85q + 20 + 400 ,where q is the firm's output. 30 Derive an expression C(q) for the firm's total cost function. i. ii. Derive an expression II(q) for the firm's profit function. iii. Is the rate of change of profit increasing or decreasing when the ouput level of the firm is 10 units? iv. Determine the level of output for which the firm's profit is maximized. v. What is the firms's maximum profit?

The total revenue curve of a firm is R(q) = 40q – 12q² and its average cost A(q) =q? – 12.85q + 20 + 400 ,where q is the firm's output. 30 Derive an expression C(q) for the firm's total cost function. i. ii. Derive an expression II(q) for the firm's profit function. iii. Is the rate of change of profit increasing or decreasing when the ouput level of the firm is 10 units? iv. Determine the level of output for which the firm's profit is maximized. v. What is the firms's maximum profit?

Algebra for College Students

10th Edition

ISBN:9781285195780

Author:Jerome E. Kaufmann, Karen L. Schwitters

Publisher:Jerome E. Kaufmann, Karen L. Schwitters

Chapter9: Polynomial And Rational Functions

Section9.4: Graphing Polynomial Functions

Problem 44PS: A company determines that its weekly profit from manufacturing and selling x units of a certain item...

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