Answer to Question #315440 in Math for Jack Paul

Question #315440

The demand functionย ๐‘„(๐‘ƒ)

Q(P)ย and cost functionsย ๐ถ(๐‘„)

C(Q)ย of a company's are given by the equations:

๐‘„=12000โˆ’60๐‘ƒ

Q=12000โˆ’60P

๐ถ(๐‘„)=10000+4๐‘„,

C(Q)=10000+4Q,

whereย ๐‘ƒ

Pย andย ๐‘„

Qย are the price and quantity, respectively.ย 

What is the company's profit function?


a.

=โˆ’60๐‘ƒโˆ’4๐‘„+2ย 000

=โˆ’60Pโˆ’4Q+2ย 000


b.

=โˆ’60๐‘ƒ

2

+11ย 760๐‘ƒโˆ’58ย 000

=โˆ’60P2+11ย 760Pโˆ’58ย 000


c.

=โˆ’60๐‘ƒ

2

+12ย 240๐‘ƒโˆ’58ย 000

=โˆ’60P2+12ย 240Pโˆ’58ย 000


d.

=โˆ’60๐‘ƒ

2

+12ย 240๐‘ƒ+38ย 000


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