A firm can produce only 1000 units per month. The monthly total cost is given by C ' ( x ) = 300 + 200 x dollars, where x is the number produced. If the total revenue is given by R ( x ) = 250 x ā 1 100 x 2 dollars, how many items, x , should the firm produce for maximum profit? Find the maximum profit.
A firm can produce only 1000 units per month. The monthly total cost is given by C ' ( x ) = 300 + 200 x dollars, where x is the number produced. If the total revenue is given by R ( x ) = 250 x ā 1 100 x 2 dollars, how many items, x , should the firm produce for maximum profit? Find the maximum profit.
Solution Summary: The author calculates the maximum profit of the provided cost function C(x)=300+200x and the unit for which it is maximum.
A firm can produce only 1000 units per month. The monthly total cost is given by
C
'
(
x
)
=
300
+
200
x
dollars, where x is the number produced. If the total revenue is given by
R
(
x
)
=
250
x
−
1
100
x
2
dollars, how many items, x, should the firm produce for maximum profit? Find the maximum profit.
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, subject and related others by exploring similar questions and additional content below.