The cost and the price- demand equation of a certain product are as follow: C(x) = 350x + 50,000 and p = 500-0.025x %3D %3D al find the the price that maximizes the revenue. b/ find the maximum revenue. d find the price that maximizes the profit. d/ find the maximum profit. el find the price that maximizes the prof it if a $20 tax was imposed on each item f/ find the maximum profit considering the tax imposed.

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
Chapter3: Benefits, Costs, And Decisions
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The cost and the price- demand equation of a certain product are as follow:
C(x):
=350x +50,000 and p = 500-0.025x
%3D
al find the the price that maximizes the revenue.
b/ find the maximum revenue.
d find the price that maximizes the profit.
d/ find the maximum profit.
el find the price that maximizes the prof it if a $20 tax was mposed on each item
f/ find the maximum profit considering the tax imposed.
Transcribed Image Text:The cost and the price- demand equation of a certain product are as follow: C(x): =350x +50,000 and p = 500-0.025x %3D al find the the price that maximizes the revenue. b/ find the maximum revenue. d find the price that maximizes the profit. d/ find the maximum profit. el find the price that maximizes the prof it if a $20 tax was mposed on each item f/ find the maximum profit considering the tax imposed.
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