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Question

# 5. A firm is running with the following cost function on the interval of 0 ≤ ≤ C(Q)=Q32

Q 10:

^{} - 3Q^{} - 9Q + 36

Find the quantity that minimizes the firm's cost and find the minimum cost.

6. A monopolist faces the following demand function Q = 144 - P: This firm can produce quantity Q of product at total cost of

C(Q) = 1/3Q^{3} - 6Q^{2} +160Q+15

Find the max profit for 0 ≤ Q. (Hint: revenue = PQ and profit = revenue - cost)

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Subject:
Applied Mathematics, Math

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