The total revenue curve of a firm is R(x) = 32·5x – 12x2 and its average cost A(x) = 1x2 – 13x + 20 + 200; where x is the firm’s output. 30 x A) Derive an expression, Π (x), for the firm’s profit function. B) Is the rate of change of profit increasing or decreasing when the output level of the firm is x = 10 and x = 30? c) Determine the level of output for which profit is maximized. (d). What is the maximum profit.
The total revenue curve of a firm is R(x) = 32·5x – 12x2 and its average cost A(x) = 1x2 – 13x + 20 + 200; where x is the firm’s output. 30 x A) Derive an expression, Π (x), for the firm’s profit function. B) Is the rate of change of profit increasing or decreasing when the output level of the firm is x = 10 and x = 30? c) Determine the level of output for which profit is maximized. (d). What is the maximum profit.
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 total revenue curve of a firm is R(x) = 32·5x – 12x2 and its
average cost A(x) = 1x2 – 13x + 20 + 200; where x is the firm’s output.
30 x A) Derive an expression, Π (x), for the firm’s profit function.
B) Is the rate of change of profit increasing or decreasing
when the output level of the firm is x = 10 and x = 30?
c) Determine the level of output for which profit is maximized.
(d). What is the maximum profit.
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