A corporation hires a company to determine the relationship between its profit and its output. The report back is that the relationship is:
? = 1/3Q^3-3Q^2+5Q+250
It states that profit is maximized when Q=1. The company believes that the relationship as stated above is correct, but they disagree with the results that profit is maximized when Q=1. Who is correct and why?© BrainMass Inc. brainmass.com October 10, 2019, 1:02 am ad1c9bdddf
P = 1/3Q^3-3Q^2+5Q+250
to find a min. of a function, we take its derivative with respect to Q, and set it ...
The expert examines profit maximization profit and output.