- #1
PBJinx
- 10
- 0
This is less a homework problem and more conceptual help for a homework problem
I have been given the information for a revenue equation and a cost equation
I set up Newton's Method with
XN+1=[tex]\frac{revenue-cost}{the derivative of the top}[/tex]
where both revenue and cost are determined by price
what I would like to know is that my thinking is right with this set up. The root that I solve for is the price of maximization for the price.
I have been given the information for a revenue equation and a cost equation
I set up Newton's Method with
XN+1=[tex]\frac{revenue-cost}{the derivative of the top}[/tex]
where both revenue and cost are determined by price
what I would like to know is that my thinking is right with this set up. The root that I solve for is the price of maximization for the price.