Find the price that will maximize profit for the demand and cost functions, where p is the price, x is the number of units, and C is the cost.Demand FunctionCost Functionp = 70 – 0.1/xC = 25x + 400per unit%24

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Answered: Find the price that will maximize…

Calculus: Early Transcendentals

8th Edition

ISBN:9781285741550

Author:James Stewart

Publisher:James Stewart

Chapter1: Functions And Models

Section: Chapter Questions

Problem 1RCC: (a) What is a function? What are its domain and range? (b) What is the graph of a function? (c) How...

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Similar questions

Suppose demand is given by p = 1600 − x. Find the maximum revenue.
A. Find the average cost function for ? televisions produced. B. Find the instantaneous rate of change of the average cost function.
A firm sells a product for $80 per unit. Raw material costs are$12,50 per unit, labor costs are $27,50 per unit, and annual fixedcosts are $260,000.a. Determine the profit function P(x), where x equals the numberof units sold.b. How many units would have to be sold to earn an annualprofit of $250,000.
Describe what fixed costs and marginal costs mean to a company. Choose the correct answer below. A. Fixed cost is the rate of change of cost C(x) at the level of production x and is equal to the slope of the cost function at x. Marginal cost is the constant for a particular product and does not change as more items are made. O B. The number of units at which revenue just equals cost is the fixed cost. Marginal cost is the constant for a particular product and does not change as more items are made. O C. Fixed cost is the constant for a particular product and does not change as more items are made. Marginal cost is the rate of change of cost C(x) at the level of production x and is equal to the slope of the cost function at x. OD. Fixed cost is the constant for a particular product and does not change as more items are made. The number of units at which revenue just equals cost is the marginal cost.

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Find the price that will maximize profit for the demand and cost functions, where p is the price, x is the number of units, and C is the cost. Demand Function Cost Function p = 70 – 0.1/x C = 25x + 400 $ per unit