The demand function for a commodity is \(P = 15 - Q\) ,where \(P\) is the price in rupees and \(Q\) is number of outputs produced and sold. The cost…
bitm Basic Mathematics · 2025 · Solved Question with Answer
The demand function for a commodity is \(P = 15 - Q\) ,where \(P\) is the price in rupees and \(Q\) is number of outputs produced and sold. The cost function is given by \(C(Q) = -20 - 3Q + Q^2\)
a. Find the value of Q at which the revenue is maximum. Also find the maximum revenue.
b. Find the value of Q at which profit is maximum. Also find the maximum profit.
c. Find the price(P) at which profit is maximum.
d. Find the break- even point.