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[Solution Library] The XYZ manufacturing company produces ball bearings. The annual fixed cost is $ 20,000 and the variable cost per ball bearing is $3. The

Question: The XYZ manufacturing company produces ball bearings. The annual fixed cost is $ 20,000 and the variable cost per ball bearing is $3. The price is related to demand according to the following equation: $1,000-8 \mathrm{p}$.

What is the nonlinear profit function for the XYZ company? Simplify the terms as much as possible.
What is the derivative of the profit function for the XYZ company? Simplify the terms as much as possible.
What is the optimal price of the ball bearings that will maximize the profit?
What is the optimal production quantity?
What is the optimal profit?

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[Solution Library] The XYZ manufacturing company produces ball bearings. The annual fixed cost is $ 20,000 and the variable cost per ball bearing is $3. The

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