In Each Case Below, Find the Profit-Maximizing Level of Output $\pi$

question 17

Essay

In each case below, find the profit-maximizing level of output. Verify that each output level is a maximum by checking the second derivative.
(a) $\pi$ = -50 + 200Q - 10Q²
(b) π = –100 + 300Q – 4Q³

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Definitions:

Descriptive Norm

The perception of what is commonly done or typical behavior within a specific context or group of people.

Relational Aggression

A form of aggression in which harm is caused through manipulation or damage to someone's relationships or social status.

Prosocial Behavior

Voluntary actions intended to benefit or help others, such as sharing, comforting, or rescuing, motivated by empathy, moral principles, or social norms.

Injunctive Norm

A social norm that prescribes how individuals are supposed to behave in a given context, reflecting what is approved or disapproved by society.