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3. Let R = 4500Q - 36Q² be the revenue R for a firm producing output quantity Q > 0, with total costs of C = 2Q³ - 6Q² + 900Q +500. Find the profit function of the firm (where profits are given by revenue minus costs), find the value of Q> 0 that maximizes profits, and find the value of profits at the maximum.

3. Let R = 4500Q - 36Q² be the revenue R for a firm producing output quantity Q > 0, with total costs of C = 2Q³ - 6Q² + 900Q +500. Find the profit function of the firm (where profits are given by revenue minus costs), find the value of Q> 0 that maximizes profits, and find the value of profits at the maximum.

Advanced Engineering Mathematics
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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3. Let R 4500Q - 36Q² be the revenue R for a firm producing output quantity Q > 0, with total costs of C = 2Q³ - 6Q² + 900Q +500. Find the profit function of the firm (where profits are given by revenue minus costs), find the value of Q> 0 that maximizes profits, and find the value of profits at the maximum. =
Transcribed Image Text:3. Let R 4500Q - 36Q² be the revenue R for a firm producing output quantity Q > 0, with total costs of C = 2Q³ - 6Q² + 900Q +500. Find the profit function of the firm (where profits are given by revenue minus costs), find the value of Q> 0 that maximizes profits, and find the value of profits at the maximum. =
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