Integral Calculus Applications Suppose we have marginal revenue (MR) and marginal cost (MC) functions: MR (q) = 8 - 6q + 2q2 MC (q) = 2 + 60q - q2 Determine: (a) Revenue function, assuming that, if 50 items are produced, revenue is 229,300/3. b) Cost function, assuming that, if 50 ítems are produced, revenue is 102,700/3 c) Utility function d) Intervals where utility function is increasing and decreasing.
Integral Calculus Applications Suppose we have marginal revenue (MR) and marginal cost (MC) functions: MR (q) = 8 - 6q + 2q2 MC (q) = 2 + 60q - q2 Determine: (a) Revenue function, assuming that, if 50 items are produced, revenue is 229,300/3. b) Cost function, assuming that, if 50 ítems are produced, revenue is 102,700/3 c) Utility function d) Intervals where utility function is increasing and decreasing.
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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Suppose we have marginal revenue (MR) and marginal cost (MC) functions:
MR (q) = 8 - 6q + 2q2
MC (q) = 2 + 60q - q2
Determine:
(a) Revenue function, assuming that, if 50 items are produced, revenue is 229,300/3.
b) Cost function, assuming that, if 50 ítems are produced, revenue is 102,700/3
c) Utility function
d) Intervals where utility function is increasing and decreasing.
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