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
anyway, i guess the way to go is to minimize the cost. so we want to minimize the function:
so we find the critical points of the function and pick the one that is the local minimum. that will give you the for minimum cost, which will make our profit larger...