Demand The demand function for a product is given byp = 8,000(1-30-0.004x)where p is the price per unit (in dollars) and x is the number of units sold. (Round your answers to the nearest whole number.)(a) Find the number of units sold when p = $500.units(b) Find the number of units sold when p = $1,100.units Minimum Average Cost The cost of producing x units of a product is modeled byC= 240 + 75x - 360 In(x),X ≥ 1.(a) Find the average cost function C.C(x) =(b) Find the minimum average cost analytically. Use a graphing utility to confirm your result. (Round your answer to two decimal places.)

Detailed explanation: Part 1: Minimum Average Cost (a) Find the Average Cost Function Cˉ(x)Cˉ(x) The…

Answered: Demand The demand function for a…

Intermediate Algebra

10th Edition

ISBN:9781285195728

Author:Jerome E. Kaufmann, Karen L. Schwitters

Publisher:Jerome E. Kaufmann, Karen L. Schwitters

Chapter9: Functions

Section9.CT: Test

Problem 16CT

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