Of course, we solve: .Determine the level of production [tex]q where is maximized.
Here is the given information: .
I found Revenue to be: .
I then need to subtract from that which looks like this:
and I got: .
To find the maximized value, take the derivative of
which I got to be:
To find the maximized level of production you are supposed to solve for
. . All of this is correct!
We have: .
Multiply by -1: . . . . You know how to solve a quadratic, right?
. . and we get: .
And the positive root is: .