Question

The demand function 𝑄(𝑃)

Q(P) and cost functions 𝐶(𝑄)

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

𝑄=12000−60𝑃

Q=12000−60P

𝐶(𝑄)=10000+4𝑄,

C(Q)=10000+4Q,

where 𝑃

P and 𝑄

Q are the price and quantity, respectively. 

What is the company's profit function?

a.

=−60𝑃−4𝑄+2 000

=−60P−4Q+2 000

b.

=−60𝑃

2

+11 760𝑃−58 000

=−60P2+11 760P−58 000

c.

=−60𝑃

2

+12 240𝑃−58 000

=−60P2+12 240P−58 000

d.

=−60𝑃

2

+12 240𝑃+38 000

Answer 1

It's been a while since this question is posted here. Still, the answer hasn't been got. Consider converting this question to a fully qualified assignment, and we will try to assist. Please click the link below to proceed: Submit order