1. A factory producing a certain type of electronic component has fixed cost of 250 per day and variable cost of 80 x, where x is the number of components produced per day. The demand function for these is p(x) = 250-x, and the possible production levels satisfy 0 less than or equal to x less than or equal to 90. Find the level of production for maximum profit.

1. A factory producing a certain type of electronic component has fixed cost of 250 per day and variable cost of 80 x, where x is the number of components produced per day. The demand function for these is p(x) = 250-x, and the possible production levels satisfy 0 less than or equal to x less than or equal to 90. Find the level of production for maximum profit.

Essentials of Economics (MindTap Course List)

8th Edition

ISBN:9781337091992

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter14: Monopoly

Section: Chapter Questions

Problem 10PA

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