A large company in the communication and publishing industry has quantified the relationship between the price of one of its products and the demand for this product as Price=160−0.02×Demand for an annual printing of this particular product. The fixed costs per year​ (i.e., per ​printing)=​$47,000 and the variable cost per unit=​$40. What is the maximum profit that can be​ achieved? What is the unit price at this point of optimal​ demand? Demand is not expected to be more than 4,000 units per year. The maximum profit that can be achieved is ​$? ​(Round to the nearest​ dollar.) The unit price at the point of optimal demand is ​$? per unit. ​

ENGR.ECONOMIC ANALYSIS
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ISBN:9780190931919
Author:NEWNAN
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Chapter1: Making Economics Decisions
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A large company in the communication and publishing industry has quantified the relationship between the price of one of its products and the demand for this product as

Price=160−0.02×Demand

for an annual printing of this particular product. The fixed costs per year​ (i.e., per

​printing)=​$47,000

and the variable cost per

unit=​$40.

What is the maximum profit that can be​ achieved? What is the unit price at this point of optimal​ demand? Demand is not expected to be more than

4,000

units per year.

The maximum profit that can be achieved is
​$?
​(Round to the nearest​ dollar.)
The unit price at the point of optimal demand is
​$?
per unit. ​
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