WebFind the maximum profit that a company can make if the profit function is given by p(x)=41−72x−18x 2 Medium Solution Verified by Toppr Given, p(x)=41−72x−18x 2 p(x)=−72−36x Putting this equal to zero we get x=−2 Now let's look at second derivative of the given function. WebFind the maximum profit that a company can make, if the profit function is given by P (x) = 41 + 24 x – 18x 2 Q. The profit function is P (x)=41+24x−18x2, calculate the …

Profit Maximization - Meaning, Formula, Graph, Monopoly

WebSolution: We have, P (x)= 41 +24x −18x2 ⇒ dxdP (x) = 24 −36x and dx2d2P (x) = −36 For maximum or minimum, we must have ⇒ dxdP (x) = 0 ⇒ 24− 36x = 0 ⇒ x = 32 Also, ( dx2d2P (x))x=32 = −36 < 0. So, profit is maximum when x = 32. Maximum profit = (Value of P (x) at x = 32) = 41 +24 × (32)− 18(32)2 = 49 WebStep 1: Set profit to equal revenue minus cost. For example, the revenue equation 2000x – 10x 2 and the cost equation 2000 + 500x can be combined as profit = 2000x – 10x 2 – (2000 + 500x) or profit = -10x 2 + … ct to ist time now

Choosing a Quantity that Maximizes Profit - ThoughtCo

WebJun 15, 2024 · As your profits increase and become more predictable, your small business has a greater chance of surviving—and most businesses don't. In fact, only around half … WebMar 17, 2024 · In most cases, economists model a company maximizing profit by choosing the quantity of output that is the most beneficial for the firm. (This makes more sense than maximizing profit by choosing a price directly, since in some situations- such as competitive markets- firms don't have any influence over the price that they can charge.) One way to … WebJan 10, 2024 · Suppose the marginal cost is $2.00; the company maximizes its profit at this point because the marginal revenue is equal to its marginal cost. ct to houston flights