Q. You are manager of a monopoly, and your demand and cost functions are given by P = 200 - 2Q and C(Q) = 2000 + 3Q2. What price-quantity combination maximises your firm's profits?
Q. The length of a Colorado brook trout is normally distributed. (a) What is the probability that a brook trout's length exceeds the mean? (b) Exceeds the mean by at least 1 standard deviation? (c) Exceeds the mean by at least 2 standard deviations? (d) Is within 2 standard deviations?