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Mathematics
Problem
A company faces the price–demand relation
p
(
q
)
=
80
−
0.5
q
p(q)=80-0.5q
p
(
q
)
=
80
−
0.5
q
dollars per unit, where
q
q
q
is the number of units sold. Its total cost is
C
(
q
)
=
20
q
+
300
C(q)=20q+300
C
(
q
)
=
20
q
+
300
dollars. Which production level maximizes the company’s profit? a)
q
=
80
q=80
q
=
80
b)
q
=
40
q=40
q
=
40
c)
q
=
60
q=60
q
=
60
d)
q
=
120
q=120
q
=
120
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