6. Find the derivative of the following two functions: (a) Y=e* Inx (5 points) (b) (5 points)

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Lelia LubowitzLv2

17 Sep 2018

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(15 points) Maximizing Profits

See Lecture 13

For the following profit functions, calculate the marginal profit functions and find the Q* that maximizes profits (i.e., the Q* so that marginal profits are equal to 0).

Remember that quantities must be greater than or equal to 0 (no negative quantities!)

a. (3 points) Π(Q)=17,136Q-7Q^2

b.(3 points) Π(Q)=1215Q-0.05Q^3

c. (3 points) Π(Q)=1,984Log(Q)-16Q

Note: Log (Q) denotes the natural log of Q (Ln on calculator)

d. (3 points) Π(Q)=15475Q-0.001e^0.25Q

e. (3 points) Π(Q)= 166,410Log(Q)-5Q^2