The utility function of a certain good is given by U(x) = 60x - x2 where x represents the number of units produced and sold during a month. How many units must be produced and sold to maximize utility? What is the maximum utility?

The utility function of a certain good is given by U(x) = 60x - x2 where x represents the number of units produced and sold during a month. How many units must be produced and sold to maximize utility? What is the maximum utility?

Micro Economics For Today

10th Edition

ISBN:9781337613064

Author:Tucker, Irvin B.

Publisher:Tucker, Irvin B.

Chapter6: Consumer Choice Theory

Section: Chapter Questions

Problem 11SQ

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The utility function of a certain good is given by U(x) = 60x - x² where x represents the number of units produced and sold during a month.
How many units must be produced and sold to maximize utility? What is the maximum utility?

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