activity 29 math practice for economics
zing Output Given the cost function C(q) = 20 + 3q and the revenue function R(q) = 50q - q², find the quantity q that maximizes profit. Solution: Write the profit function: π(q) = R(q) - C(q) = (50q - q²) - (20 + 3q) = 50q - q² - 20 - 3q = (50q - 3q) - q² - 20 = 47q - q² - 2