A manufacturer estimates that its product can be produced at a total cost of C(x) = 55,000 + 100x + x³ dollars. If the manufacturer's total revenue from the sale of x units is R(x) = 5200x dollars, determine the level of production x that will maximize the profit. (Round your answer to the nearest whole number.) units Find the maximum profit. (Round your answer to the nearest dollar.) $ Need Help?

A manufacturer estimates that its product can be produced at a total cost of C(x) = 55,000 + 100x + x³ dollars. If the manufacturer's total revenue from the sale of x units is R(x) = 5200x dollars, determine the level of production x that will maximize the profit. (Round your answer to the nearest whole number.) units Find the maximum profit. (Round your answer to the nearest dollar.) $ Need Help?

Managerial Economics: A Problem Solving Approach

5th Edition

ISBN:9781337106665

Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor

Publisher:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor

Chapter7: Economies Of Scale And Scope

Section: Chapter Questions

Problem 8MC

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A company finds that it can sell out a certain product that it produces, at the rate of Tk. 2 per unit. 1 It estimates the cost function of the product to be Tk. 1000 + 2 50 for q units produced. (i) Find the expression for the total profit, if q units are produced and sold. (ii) Find the number of units produced that will maximize profit. (iii)What is the amount of this maximum profit? (iv) What would be the profit if 6000 units were produced?
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material cost depends on per unit of output