The weekly demand function for x units of a product sold by only one firm is p = 500 − 1 2x dollars, and the average cost of production and sale is C = 400 + 2x dollars. (a) Find the quantity that will maximize profit. units (b) Find the selling price at this optimal quantity. $ per unit (c) What is the maximum profit? $
The weekly demand function for x units of a product sold by only one firm is p = 500 − 1 2x dollars, and the average cost of production and sale is C = 400 + 2x dollars. (a) Find the quantity that will maximize profit. units (b) Find the selling price at this optimal quantity. $ per unit (c) What is the maximum profit? $
Chapter6: Systems Of Equations And Inequalities
Section: Chapter Questions
Problem 91RE
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Question
The weekly demand function for x units of a product sold by only one firm is
p = 500 −
x dollars,
1 |
2 |
and the average cost of production and sale is
C = 400 + 2x dollars.
(a) Find the quantity that will maximize profit.
units
(b) Find the selling price at this optimal quantity.
$ per unit
(c) What is the maximum profit?
$
units
(b) Find the selling price at this optimal quantity.
$ per unit
(c) What is the maximum profit?
$
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