A large corporation with monopolistic control in the marketplace has its average daily costs, in dollars, given by C = 1000 + 100x + x². The daily demand for x units of its product is given by p = 600,000 - 50x dollars. Find the quantity that gives maximum profit. X = units Find the maximum profit. $ What selling price should the corporation set for its product? $

Advanced Engineering Mathematics
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Author:Erwin Kreyszig
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Chapter2: Second-order Linear Odes
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A large corporation with monopolistic control in the marketplace has its average daily costs, in dollars, given by
C = 1000
+ 100x + x².
The daily demand for x units of its product is given by p = 600,000 - 50x dollars. Find the quantity that gives maximum profit.
X =
units
Find the maximum profit.
$
What selling price should the corporation set for its product?
$
Transcribed Image Text:A large corporation with monopolistic control in the marketplace has its average daily costs, in dollars, given by C = 1000 + 100x + x². The daily demand for x units of its product is given by p = 600,000 - 50x dollars. Find the quantity that gives maximum profit. X = units Find the maximum profit. $ What selling price should the corporation set for its product? $
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