Given the following total revenue and total cost functions for afirm, maximize profit ? for the firm
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Question:
Given the following total revenue and total cost functions for afirm, maximize profit ? for the firm as follows
(1) Set up the profit function ???? = ???????? ? ????????,
(2)find the critical value(s) where ? is at a relative extremumand test the second-order condition, and
(3) calculate the maximum profit. ???????? = 1500???? ? 12???? ? ???????? = 2000 +90?
Related Book For
Microeconomics An Intuitive Approach with Calculus
ISBN: 978-0538453257
1st edition
Authors: Thomas Nechyba
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