8. It costs a car company $8000 to produce each car and fixed costs are $20, 000 per week. The company's price function is p(x) = 22,000 - 70x, where p is the price at which exactly x cars will be sold. a) Find the profit function for the company. b) Find the number of cars that need to be produced and sold in order to maximize the profit. c) Find the price at which the cars should be sold. d) Find the company's maximum profit.

8. It costs a car company $8000 to produce each car and fixed costs are $20, 000 per week. The company's price function is p(x) = 22,000 - 70x, where p is the price at which exactly x cars will be sold. a) Find the profit function for the company. b) Find the number of cars that need to be produced and sold in order to maximize the profit. c) Find the price at which the cars should be sold. d) Find the company's 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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