The profit function of a firm is of the form
π=aQ2 +bQ+c
If it is known that π = 9, 34 and...
Mathematics, 04.10.2021 03:50 joyce945
The profit function of a firm is of the form
π=aQ2 +bQ+c
If it is known that π = 9, 34 and 19 when Q = 1, 2 and 3, respectively, write down a set of three simultaneous equations for the three unknowns, a, b and c. Solve this system to find a, b and c. Hence find the profit when Q = 4.
Answers: 1
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