hello,
need help with this one, need it around 5hrs from now :)
Q: how much is the optimum quantity that yields the maximum profit? show your solution
Selling Price = 60
Total cost TC = 128+69Q-14Q^2+Q^3
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hello,
need help with this one, need it around 5hrs from now :)
Q: how much is the optimum quantity that yields the maximum profit? show your solution
Selling Price = 60
Total cost TC = 128+69Q-14Q^2+Q^3
i think there's some stuff missing from the question, the wording seems weird to me...Quote:
Originally Posted by archistrategos214
anyway, i guess the way to go is to minimize the cost. so we want to minimize the function: $\displaystyle 128 + 69Q - 14Q^2 + Q^3$
so we find the critical points of the function and pick the one that is the local minimum. that will give you the $\displaystyle Q$ for minimum cost, which will make our profit larger...
