Solution) Suppose that when the price of a certain commodity is p dollars per unit, then x hundred units will
Question: Suppose that when the price of a certain commodity is p dollars per unit, then x hundred units will be purchased by consumers, where
\[p=-0.05x+38\]The cost of producing x hundred units is
\[C\left( x \right)=0.02{{x}^{2}}+3x+574.77\](a) Express the profit P obtained from the sale of x units as a function of x
(b) Use the profit curve found in (a) to find the level of production x that results in the maximum profit. What unit price corresponds to the maximum profit?
Price: $2.99
See Solution: The solution consists of 2 pages
Deliverables: Word Document
Deliverables: Word Document
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