Supply for a product is given by 2p − q = 50 and demand is given by pq = 100 + 20q. Suppose costs are C(q) = 12q + 2500. Find the profit at the equilibrium point.
Supply for a product is given by 2p − q = 50 and demand is given by pq = 100 + 20q. Suppose costs are C(q) = 12q + 2500. Find the profit at the equilibrium point.
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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Supply for a product is given by 2p − q = 50 and demand is given by pq = 100 + 20q. Suppose costs are C(q) = 12q + 2500. Find the profit at the equilibrium point.
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