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OpenStudy (anonymous):
Given cost equation and demand curve equation, how do you find the quantity for max profit?
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OpenStudy (anonymous):
omg i kind of remember this from economics class...last year...nvm ..wait..
OpenStudy (anonymous):
nope nothing
OpenStudy (anonymous):
For example, C(q) = 0.7q^2 - 1600q +900,000 (cost equation) p(q) = 400 - 0.5q
OpenStudy (anonymous):
find equilibrium point
OpenStudy (anonymous):
isn't the maximum profit when marginal cost = marginal return?
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OpenStudy (anonymous):
yes, that's equilibrium point
OpenStudy (anonymous):
kk thanks
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