Question
Suppose that the firm’s profit function is given as: π(Q)=1000-5Q^2, where Q is quantity produced and π is profits. Which of the following statements is/are correct? a. The optimal quantity the firm can produce to maximize its profit is 50 b. The optimal quantity the firm can produce to maximize its profit is 30. c. The optimal quantity the firm can produce to maximize its profit is 20 d. The optimal quantity the firm can produce to maximize its profit is 100 e. None of the above
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Answer to a math question Suppose that the firm’s profit function is given as: π(Q)=1000-5Q^2, where Q is quantity produced and π is profits. Which of the following statements is/are correct? a. The optimal quantity the firm can produce to maximize its profit is 50 b. The optimal quantity the firm can produce to maximize its profit is 30. c. The optimal quantity the firm can produce to maximize its profit is 20 d. The optimal quantity the firm can produce to maximize its profit is 100 e. None of the above
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none of the above
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