12. Given the following price-demand and cost functions for a product: p(x) = 10 -0.001x C(x) = 5000+2x a) Determine the revenue and profit functions. b) Using calculus determine how many products should be sold to maximize profit? c) What is the maximum profit? d) For maximum profit, what price should the product be sold for?
12. Given the following price-demand and cost functions for a product: p(x) = 10 -0.001x C(x) = 5000+2x a) Determine the revenue and profit functions. b) Using calculus determine how many products should be sold to maximize profit? c) What is the maximum profit? d) For maximum profit, what price should the product be sold for?
Chapter3: Functions
Section3.2: Domain And Range
Problem 61SE: The cost in dollars of making x items is given by the function Cx)=10x+500. a. The fixed cost is...
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