A construction company has determined its price-demand function for a certain product is given by C(x) = 200 - 0.5x and the total cost of the production of the product is given by C(x) = 1400 + 55x. a) What is the maximum revenue that the company can realize?

A construction company has determined its price-demand function for a certain product is given by C(x) = 200 - 0.5x and the total cost of the production of the product is given by C(x) = 1400 + 55x. a) What is the maximum revenue that the company can realize?

Micro Economics For Today

10th Edition

ISBN:9781337613064

Author:Tucker, Irvin B.

Publisher:Tucker, Irvin B.

Chapter7: Proudction Costs

Section: Chapter Questions

Problem 13SQ

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Question

A construction company has determined its price-demand function for a certain product is given by C(x) = 200 - 0.5x and the total cost of the production of the product is given by C(x) = 1400 + 55x.

a) What is the maximum revenue that the company can realize?

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