Chapter 10, Problem 43RE

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11th Edition

Ronald J. Harshbarger + 1 other

ISBN: 9781305108042

Textbook Problem

** Profit** The monthly demand function for

(a) Determine the quantity that will maximize profit.

(b) Find the selling price at the optimal quantity.

**(a)**

To determine

**To calculate:** The quantity that will maximize the profit if the function for *x* units for the monthly demand of a product is

Explanation

**Given Information:**

The provided equations are the monthly demand function for *x* units of a product sold at

**Formula Used:**

Where

**Calculation:**

Consider the provided equation *x* units of a product sold,

The revenue for

The cost is:

Hence, the profit function is equal to:

**(b)**

To determine

**To calculate:** The selling price at optimal quantity if the function for *x* units for the monthly demand of a product is

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