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The monthly demand function for a product sold by a monopoly is p = 1,764-² dollars, and the average C = 900 + 12x + x² dollars. Production is limited to 1,000 units, and x is in hundreds of units. Find the revenue function, R(x). R(x) = Find the cost function, C(x). C(x) = Find the profit function, P(x). P(x) = (a) Find P'(x). P'(x) = Considering the limitations of production, find the quantity (in hundreds of units) that will give the ma 12 hundred units (b) Find the maximum profit. (Round your answer to the nearest cent.) $ 6336

The monthly demand function for a product sold by a monopoly is p = 1,764-² dollars, and the average C = 900 + 12x + x² dollars. Production is limited to 1,000 units, and x is in hundreds of units. Find the revenue function, R(x). R(x) = Find the cost function, C(x). C(x) = Find the profit function, P(x). P(x) = (a) Find P'(x). P'(x) = Considering the limitations of production, find the quantity (in hundreds of units) that will give the ma 12 hundred units (b) Find the maximum profit. (Round your answer to the nearest cent.) $ 6336

College Algebra (MindTap Course List)
College Algebra (MindTap Course List)
12th Edition
ISBN:9781305652231
Author:R. David Gustafson, Jeff Hughes
Publisher:R. David Gustafson, Jeff Hughes
Chapter4: Polynomial And Rational Functions
Section4.1: Quadratic Functions
Problem 6SC: A company that makes and sells baseball caps has found that the total monthly cost C in dollars of...
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The monthly demand function for a product sold by a monopoly is p = 1,764 x² dollars, and the average cost is 3 C = 900 + 12x + x² dollars. Production is limited to 1,000 units, and x is in hundreds of units. Find the revenue function, R(x). R(x) = Find the cost function, C(x). C(x) = Find the profit function, P(x). P(x) = (a) Find P'(x). P'(x) = Considering the limitations of production, find the quantity (in hundreds of units) that will give the maximum profit. hundred units 12 (b) Find the maximum profit. (Round your answer to the nearest cent.) $6336
Transcribed Image Text:The monthly demand function for a product sold by a monopoly is p = 1,764 x² dollars, and the average cost is 3 C = 900 + 12x + x² dollars. Production is limited to 1,000 units, and x is in hundreds of units. Find the revenue function, R(x). R(x) = Find the cost function, C(x). C(x) = Find the profit function, P(x). P(x) = (a) Find P'(x). P'(x) = Considering the limitations of production, find the quantity (in hundreds of units) that will give the maximum profit. hundred units 12 (b) Find the maximum profit. (Round your answer to the nearest cent.) $6336
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