(Solution) - The Mineola Corporation hires a consultant to estimate the relationship -(2025 Original AI-Free Solution)

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The Mineola Corporation hires a consultant to estimate the relationship between its profit and its output. The consultant reports that the relationship is
? = ? 10 ? 6Q + 5.5Q2 ? 2Q3 + 0.25Q4
a. The consultant says that the firm should set Q equal to 1 to maximize profit. Is it true that d?/dQ = 0 when Q = 1? Is ? at a maximum when Q = 1?
b. Mineola's executive vice president says that the firm's profit is a maximum when Q = 2. Is this true?
c. If you were the chief executive officer of the Mineola Corporation, would you accept the consultant's estimate of the relationship between profit and output as correct?