Rather than having a linear profit function like the one shown on slide 10-4 of the chapter slides, suppose we have a nonlinear profit function like the one shown on slides 10-5 and 10-6 of the chapter slides. Which of the following statements is true?

Rather than having a linear profit function like the one shown on slide 10-4 of the chapter slides, suppose we have a nonlinear profit function like the one shown on slides 10-5 and 10-6 of the chapter slides. Which of the following statements is true?

 

a. If we take the derivative of the nonlinear profit function and set it equal to 0, we can solve for the optimal profit value.

 

b. The slope of the nonlinear profit function is irrelevant when determining the optimal profit value.

 

c. The slope of the nonlinear profit function will be equal to 1 at its maximum value.

 

d. All of the above are true concerning the nonlinear profit function.
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