Question
The cost function for a product in a firm is given by 5q2, where q is the amount of production. The firm can sell the product at a market price of Rs.50 per unit. The number of units to be produced by the Emi such that the profit is maximized is
The correct answer is
5
Profit is 50q−5q². Its derivative is 50−10q, zero at q=5. The second derivative is −10, so this is the maximum.
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