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(3) The demand curve of a firm is p=1200 -21g and its total cost is C(q) = 2q-66q- + 600g +1000 where q is the output of the firm (in thousands). () Derive an expression R(q), for the firm's revenue function. (ii) Derive an expression II(q) for the firm' s profit function. (iii) Is the rate of change of profit increasing or decreasing when the output level of the firm is 10,000 units? (iv) Determine the level of output at which profit is maximized.

(3) The demand curve of a firm is p=1200 -21g and its total cost is C(q) = 2q-66q- + 600g +1000 where q is the output of the firm (in thousands). () Derive an expression R(q), for the firm's revenue function. (ii) Derive an expression II(q) for the firm' s profit function. (iii) Is the rate of change of profit increasing or decreasing when the output level of the firm is 10,000 units? (iv) Determine the level of output at which profit is maximized.

MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
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please answer the number 4  ,no handwriting please makes it hard to read

(3) The demand curve of a firm is p=1200-21g and its total cost is C(q) = 24-66q +600q+1000 where q is the output of the firm (in thousands). () Derive an expression R(g), for the firm' s revenue function. (ii) Derive an expression II(q) for the firm' s profit function. (iii) Is the rate of change of profit increasing or decreasing when the output level of the firm is 10,000 units? (iv) Determine the level of output at which profit is maximized.
Transcribed Image Text:(3) The demand curve of a firm is p=1200-21g and its total cost is C(q) = 24-66q +600q+1000 where q is the output of the firm (in thousands). () Derive an expression R(g), for the firm' s revenue function. (ii) Derive an expression II(q) for the firm' s profit function. (iii) Is the rate of change of profit increasing or decreasing when the output level of the firm is 10,000 units? (iv) Determine the level of output at which profit is maximized.
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