Pls, I can remember my differential calculus very well. Can you please help me on how to solve a linear relationship with respect to the following question;
Total Cost= 5000+0.6x
Total revenue= 20x - 0.01x^2
1. Dertermine the level of output to maximise profit?
2. What should price be where TC=TR?
3. Explain the structure of this model?
Thanks for your help.
Total Cost= 5000+0.6x
Total revenue= 20x - 0.01x^2
1. Dertermine the level of output to maximise profit?
2. What should price be where TC=TR?
3. Explain the structure of this model?
Thanks for your help.