A firm has a demand function P = 32 – Q
At what quantity is the total revenue maximised?
All i think about this question is to change it to 32-Q^2, then i
think you have to find the derivative but it doesn't make sense to
If you could give me a hint on what i need to look for that would be
I would really appreciate your help.
The vertex for a quadratic of the form occurs when:
Completing the square:
we complete the square to get the quadratic in the form:
when in this form, the vertex is given by:
here, the x-value is your Q