Lorenzo M.
asked • 03/27/21Calculus Question
Work problem number 17 from section 4.4 of your book (page 194) using the revenue function R(q)=450q and the cost function C(q)=9900+2q2. Round your answers to the nearest whole number.
a) At what quantity is profit maximized?
q =
b) What is the total profit at this production level?
profit =
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1 Expert Answer
Raymond B. answered • 03/29/21
Tutor
5
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Math, microeconomics or criminal justice
Profit = Revenue - Cost
= R-C = 450q - 9900 - 2q^2
take the derivative, set it equal to zero, and solve for q
R'-C' = 450 -4q = 0
4q = 450
q = 112.5 = profit maximizing output level, rounded to whole number = 113
plug that value into the R-C equation to find max profit
R-C = 450(112.5) -9900 - 2(112.5)^2 =
50625 -9900 - 25312.5 = 15412.5 round up to a whole number = 15,413
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Mark M.
What is "problem number 17 from section 4.4 of your book (page 194)"?03/27/21