Find the maximum profit and the number of units that must be produced and sold in order to yield the maximum profit. Assume that revenue, R(x), and cost, C(x), are in thousands of dollars, and x is in thousands of units. R(x) = 7x- 4x, C(x)=x° - 5x² + 4x +1 The production level for the maximum profit is about units. (Do not round until the final answer. Then round to the whole number as needed.)

Find the maximum profit and the number of units that must be produced and sold in order to yield the maximum profit. Assume that revenue, R(x), and cost, C(x), are in thousands of dollars, and x is in thousands of units. R(x) = 7x- 4x, C(x)=x° - 5x² + 4x +1 The production level for the maximum profit is about units. (Do not round until the final answer. Then round to the whole number as needed.)

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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