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Find the quantity which maximizes the profit

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Reference no: EM131604337

Question: Give the cost, revenue, and profit functions.

1. The revenue from selling q items is R(q) = 500q - q2, and the total cost is C(q) = 150 + 10q. Write a function that gives the total profit earned, and find the quantity which maximizes the profit.

2. Revenue is given by R(q) = 450q and cost is given by C(q) = 10,000 + 3q2. At what quantity is profit maximized? What is the total profit at this production level?

Reference no: EM131604337

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