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Determine the profit maximizing quantity and profit levels; and then graph (in general form) the outcomes...

Determine the profit maximizing quantity and profit levels; and then graph (in general form) the outcomes for the production function ( standard form with q(K,L) curve ) , cost/revenue functions (with MC, AC, and P curve/line) and profit function ( profit (q) curve ) for the following all graphs have to display q*: 1. C(q)=1000+q^2, P=10000 2. C(q)=1000+4q^3, P=10000 3. C(q)=1000+q^1.5, P=10000 4. Explain the differences between your outcomes and give a plausible reason for the difference between 1 & 2 and then for 1 & 3. Specifically: what changed, what didn't, what the effects are, and why.

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Rahul Sunny answered 7 months ago
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