3For a monopolist's product, the cost function is c = 0.004q³ +20q+8000 and the demand function is p = 450-6q. Find the profit-maximizing output.The profit-maximizing output is.(Round to the nearest whole number as needed.)

Given that: The cost function is c=0.004q3+20q+8000. The demand function is p=450-6q. Profit…

Answered: For a monopolist's product, the cost…

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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For a monopolist's product, the cost function is c = 0.004q+20q+8000 and the demand function is p=450-6q. Find the profit-maximizing output. The profit-maximizing output is. (Round to the nearest whole number as needed.)