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
286
likes1432 views
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
Lurline
4.6107 Answers
none of the above
Frequently asked questions (FAQs)
What is the median of a set of numbers if the number of elements is odd?
+
What is the equation for an ellipse with center (h,k), major axis 2a, and minor axis 2b?
+
What is the limit of (2x^2 - 3x + 5) as x approaches 3?
+
New questions in Mathematics