The quantity demanded per month, x, of a certain brand of electric shavers is related to the price
Question: The quantity demanded per month, x, of a certain brand of electric shavers is related to the price, p, per shaver by the equation p = -0.1x + 10,000 (0 < x < 20,000), where p is measured in dollars. The total monthly cost for manufacturing the shavers is given
C(x) = 0.00002x3 - 0.4x2 +10,000x + 20,000.
How many shavers should be produced per month in order to maximize the company's profit? What is the maximum profit?
Price: $2.99
Solution: The solution file consists of 2 pages
Deliverables: Word Document
Deliverables: Word Document
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