Suppose a company's revenue function is given by R(q)=−q^3+360q^2 and its cost function is given by...

Suppose a company's revenue function is given by R(q)=−q^3+360q^2 and its cost function is given by C(q)=300+19q where q is hundreds of units sold/produced, while R(q) and C(q) are in total dollars of revenue and cost, respectively.

A) Find a simplified expression for the marginal profit function. (Be sure to use the proper variable in your answer.)

MP(q)=

B) How many items (in hundreds) need to be sold to maximize profits? (Round your answer to two decimal places.)

Answer: hundred units must be sold.

Expert Solution

milcah answered 2 years ago

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