I am required to work on the following optimization problem:
Max. $(a-\alpha)Q -(b-\beta)Q^2$ subject to $Q\geq 0$
How do I do so?
My FOC is $(a-\alpha) -2(b-\beta)Q-\lambda(-Q)=0$ and
Complimentary Slackness Condition is
$\lambda \geq0, \lambda=0 \text{ if } -Q <0$
How do I continue from here?
Having the FOC, you can try to solve it. Maybe you could solve your first equation for $Q$ in dependence of $\lambda$ (or the other way round). Then plug this solution into your complementary slackness condition.