The figure below shows cost and revenue.$(thousands)400300200100510C(q)R(q)15q (thousands) For what production levels is the profit function positive?O The profit function is positive when q> 12.5.O The profit function is positive when q < 5.5.O The profit function is always positive.O The profit fuction is positive when 5.5 12.5.eTextbook and MedialFor what production levels is the profit function negative?O The profit function is negative when q> 12.5.O The profit function is negative when q < 5.5.O The profit function is negative when q < 5.5 orq> 12.5.O The profit fuction is negative when 5.5 << 12.5.O The profit function is always neagtive.Show Transcribed TextFor what production levels is the profit maximized?Round your answer to one decimal place.q=ieTextbook and Media

Total revenue and total costs: Total revenue is the total value of the commodities produced and sold…

Answered: The figure below shows cost and…

Business

Economics

The figure below shows cost and revenue. $(thousands) 400 300 200 100 5 10 C(q) 15 R(q) q (thousands)

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

The figure below shows cost and revenue.
$(thousands)
400
300
200
100
5
10
C(q)
R(q)
15
q (thousands)

For what production levels is the profit function positive?
O The profit function is positive when q> 12.5.
O The profit function is positive when q < 5.5.
O The profit function is always positive.
O The profit fuction is positive when 5.5 <q < 12.5.
O The profit function is positive when q < 5.5 orq> 12.5.
eTextbook and Medial
For what production levels is the profit function negative?
O The profit function is negative when q> 12.5.
O The profit function is negative when q < 5.5.
O The profit function is negative when q < 5.5 orq> 12.5.
O The profit fuction is negative when 5.5 << 12.5.
O The profit function is always neagtive.
Show Transcribed Text
For what production levels is the profit maximized?
Round your answer to one decimal place.
q=i
eTextbook and Media

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