The demand functionย ๐(๐)
Q(P)ย and cost functionsย ๐ถ(๐)
C(Q)ย of a company's are given by the equations:
๐=12000โ60๐
Q=12000โ60P
๐ถ(๐)=10000+4๐,
C(Q)=10000+4Q,
whereย ๐
Pย andย ๐
Qย are the price and quantity, respectively.ย
What is the company's profit function?
a.
=โ60๐โ4๐+2ย 000
=โ60Pโ4Q+2ย 000
b.
=โ60๐
2
+11ย 760๐โ58ย 000
=โ60P2+11ย 760Pโ58ย 000
c.
=โ60๐
2
+12ย 240๐โ58ย 000
=โ60P2+12ย 240Pโ58ย 000
d.
=โ60๐
2
+12ย 240๐+38ย 000
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