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The profit function for good x is given by P(q) = 200 + 1009 + 30q²-9² where q is the quantity of x sold. (a) Determine the value of q resulting in the largest profit. (b) Calculate the maximum profit. Why might the profit be lower if q is higher than this?

The profit function for good x is given by P(q) = 200 + 1009 + 30q²-9² where q is the quantity of x sold. (a) Determine the value of q resulting in the largest profit. (b) Calculate the maximum profit. Why might the profit be lower if q is higher than this?

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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The profit function for good x is given by P(q) = 200 + 100q + 30q²-9³ where q is the quantity of x sold. (a) Determine the value of q resulting in the largest profit. (b) Calculate the maximum profit. Why might the profit be lower if q is higher than this?
Transcribed Image Text:The profit function for good x is given by P(q) = 200 + 100q + 30q²-9³ where q is the quantity of x sold. (a) Determine the value of q resulting in the largest profit. (b) Calculate the maximum profit. Why might the profit be lower if q is higher than this?
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