Estimated total time cost and total revenue functions: TTC = 120 + 2N + 0.0067N3 and...

Estimated total time cost and total revenue functions: TTC = 120 + 2N + 0.0067N3 and TTR = 120 + 0.6N2 – 0.02N3 where N is time in ten-day feeding units. Profit = TTR - TTC

a. Calculate Profit maximizing N

b.Find Average profit

c. Average profit maximizing N

Solutions

Expert Solution

a) Profit maximising N

b) Find Average Profit

Average profit maximising N

Done

Rahul Sunny answered 1 year ago

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