A firm’s revenue and cost functions are R(q)=60q-0.4q^ 2 and C(q)=20q+3000

MATHEMATICS · Subjective · CBSE · Mathematics · Applications of Derivatives · Applications of Derivatives

Problem

A firm’s revenue and cost functions are R(q)=60q−0.4q2andC(q)=20q+3000,R(q)=60q-0.4q^{2}\quad \text{and}\quad C(q)=20q+3000, where qq is the number of units produced and sold. Determine the production level qq that maximizes profit.

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