Question 10208 – Engineering-Mathematics
April 30, 2024Question 9599 – GATE 2003
April 30, 2024Question 8860 – Aptitude
The cost function for a product in a firm is given by 5q2, where q is the amount of production. The firm can sell the product at a market price of ₹50 per unit. The number of units to be produced by the firm such that the profit is maximized is
Correct Answer: A
Question 21 Explanation:
Total selling price = 50q
Profit = 50q – 5q2
For Profit to be maximum,
d(Profit)/dq = 0
d(50q – 5q2) /dq = 0
50 – 10q = 0
50 = 10q
q = 5
Profit = 50q – 5q2
For Profit to be maximum,
d(Profit)/dq = 0
d(50q – 5q2) /dq = 0
50 – 10q = 0
50 = 10q
q = 5
5
10
15
25
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