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Mathematics
Problem
A firm’s revenue and cost functions are
R
(
q
)
=
60
q
−
0.4
q
2
and
C
(
q
)
=
20
q
+
3000
,
R(q)=60q-0.4q^{2}\quad \text{and}\quad C(q)=20q+3000,
R
(
q
)
=
60
q
−
0.4
q
2
and
C
(
q
)
=
20
q
+
3000
,
where
q
q
q
is the number of units produced and sold. Determine the production level
q
q
q
that maximizes profit.
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