Assuming that p denotes the unit price (in dollars) of some product, p = -4x + 1600, where denotes the demand for the product, and cost function C(x) = 40x + 3000, determine: a) The demand level, x, for which the profit is maximized; b) The unit price, p, for which the profit is maximized;
Assuming that p denotes the unit price (in dollars) of some product, p = -4x + 1600, where denotes the demand for the product, and cost function C(x) = 40x + 3000, determine: a) The demand level, x, for which the profit is maximized; b) The unit price, p, for which the profit is maximized;
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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