Managerial Economics: Applications, Strategies and Tactics (MindTap Course List)
14th Edition
ISBN:9781305506381
Author:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris
Publisher:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris
Chapter8: Cost Analysis
Section: Chapter Questions
Problem 2.3CE
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Question
Y = 0.75X + 0.0042X2 – 0.000023X3
If input price is 0.15$ and output price is 4$ then at what level of X, profit will be maximum?
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