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Given a firm’s revenue and cost functions:

R(Q) = -0.0016Q2 + 44Q and C(Q) = 0.0004Q2 + 8Q + 64,000

Construct a profit function, determine the level of Q that maximizes profits, and prove that it is a maximum by invoking the second-derivative test

Business Economics, Economics

  • Category:- Business Economics
  • Reference No.:- M91709940

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