Can you more detailed explain and write this part : Cost is minimized at the point where profit is maximized . Profit = R - C = q2+14q+20 - 2q2 + 8q - 15 Profit maximizing point : d(Profit )/dq = 0 => -2q + 22 = 0 ( especially i don't understand this part !!!!) q* = 11 (Cost minimizing level of production )
Can you more detailed explain and write this part : Cost is minimized at the point where profit is maximized . Profit = R - C = q2+14q+20 - 2q2 + 8q - 15 Profit maximizing point : d(Profit )/dq = 0 => -2q + 22 = 0 ( especially i don't understand this part !!!!) q* = 11 (Cost minimizing level of production )
Micro Economics For Today
10th Edition
ISBN:9781337613064
Author:Tucker, Irvin B.
Publisher:Tucker, Irvin B.
Chapter7: Proudction Costs
Section: Chapter Questions
Problem 6SQ
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Can you more detailed explain and write this part :
Cost is minimized at the point where profit is maximized .
Profit = R - C = q2+14q+20 - 2q2 + 8q - 15
Profit maximizing point : d(Profit )/dq = 0
=> -2q + 22 = 0 ( especially i don't understand this part !!!!)
q* = 11 (Cost minimizing level of production )
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