Hi, guys,
Why do most of the revenue and profit equations turn out to be quadratic? I know many revenue functions are linear, but when costs increase after a certain level of production, are quadratic funstions better at predicting the total cost of products?
Thanks
Why do most of the revenue and profit equations turn out to be quadratic? I know many revenue functions are linear, but when costs increase after a certain level of production, are quadratic funstions better at predicting the total cost of products?
Thanks