How would I derive the profit max function in terms of $y$?
The equation is $$py - (1-s)(C(y)+\alpha)$$
I know $d/dy$ for $py$ is $p$. However, how would I derive equation for the latter term? I know $C(y)$ would turn to $C'(y)$.
How would I derive the profit max function in terms of $y$?
The equation is $$py - (1-s)(C(y)+\alpha)$$
I know $d/dy$ for $py$ is $p$. However, how would I derive equation for the latter term? I know $C(y)$ would turn to $C'(y)$.