A commodity has a demand function modeled by p= 100-0.5x and the total cost function is C= 50x+37.5 if x is number of units. Price of maximum profit has to be calculated. We have to find the price where there is the maximum profit.
A commodity has a demand function modeled by p= 100-0.5x and the total cost function is C= 50x+37.5 if x is number of units. Price of maximum profit has to be calculated. We have to find the price where there is the maximum profit.
Managerial Economics: Applications, Strategies and Tactics (MindTap Course List)
14th Edition
ISBN:9781305506381
Author:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris
Publisher:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris
Chapter9: Applications Of Cost Theory
Section: Chapter Questions
Problem 1.5CE
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A commodity has a demand function modeled by p= 100-0.5x and the total cost function is C= 50x+37.5 if x is number of units.
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