1. A factory producing a certain type of electronic component has fixed cost of 250 per day and variable cost of 80 x, where x is the number of components produced per day. The demand function for these is p(x) = 250-x, and the possible production levels satisfy 0 less than or equal to x less than or equal to 90. Find the level of production for maximum profit.

1. A factory producing a certain type of electronic component has fixed cost of 250 per day and variable cost of 80 x, where x is the number of components produced per day. The demand function for these is p(x) = 250-x, and the possible production levels satisfy 0 less than or equal to x less than or equal to 90. Find the level of production for maximum profit.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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