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Example 74 the total cost of a firm is: C (x) = x' - 5x? + 30x + 10, where C is the 3 total cost and x is the output, and price under pure competition is given as 6, find for what value of x the profit will be maximized? Examine both first and second order conditions.

Example 74 the total cost of a firm is: C (x) = x' - 5x? + 30x + 10, where C is the 3 total cost and x is the output, and price under pure competition is given as 6, find for what value of x the profit will be maximized? Examine both first and second order conditions.

Advanced Engineering Mathematics
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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Example 74 Hthe total cost of a firm is: C (x) = x' - 5x? + 30x + 10, where C is the total cost and x is the output, and price under pure competition is given as 6, find for what value of x the profit will be maximized? Examine both first and second order conditions.
Transcribed Image Text:Example 74 Hthe total cost of a firm is: C (x) = x' - 5x? + 30x + 10, where C is the total cost and x is the output, and price under pure competition is given as 6, find for what value of x the profit will be maximized? Examine both first and second order conditions.
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