The total revenue function of a firm is given as R = 21q – q² and it estimates the total cost function of the product is c =q? – 3q² – 7q + 16 where, q is the output. Find the output at which the total revenue is maximum and the total cost is minimum.

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Equations and Inequations

Equations and inequalities describe the relationship between two mathematical expressions.

Linear Functions

A linear function can just be a constant, or it can be the constant multiplied with the variable like x or y. If the variables are of the form, x2, x1/2 or y2 it is not linear. The exponent over the variables should always be 1.