The Bartholomew Company’s profit is related in the following way to its output: p = -40 + 20Q - 3Q2
Question: The Bartholomew Company’s profit is related in the following way to its output:
p = -40 + 20Q – 3Q2 , where p is total profit and Q is output.
a. If the firm’s output equals 8, what is the marginal profit?
b. Derive an equation relating to the firm’s marginal profit to its output.
c. What output maximizes the firm’s profit?
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Solution Format: Word Document
Solution Format: Word Document
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