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watching
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27 Apr 2018
4. In all of this question let q> 0 represent quantity (i.e. number of units) of some product and 2250 let p > 0 represent unit price in $ per unit). Assume a demand function p= 400 – 50q+ __800 In(q +5) and an average cost function i= (a) State the profit function. [4 points] (b) Find the quantity that maximizes profit and calculate the maximum profit. Sufficiently justify your answer. (11 points)
4. In all of this question let q> 0 represent quantity (i.e. number of units) of some product and 2250 let p > 0 represent unit price in $ per unit). Assume a demand function p= 400 – 50q+ __800 In(q +5) and an average cost function i= (a) State the profit function. [4 points] (b) Find the quantity that maximizes profit and calculate the maximum profit. Sufficiently justify your answer. (11 points)
Jean KeelingLv2
29 Apr 2018
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