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If C(x) = 15,000 + 400x - 2.8x² +0.004x³ is the cost function and p(x) = 4,000 - 7x is the demand function, find the production level (in units) that will maximize profit. (Hint: If the profit is maximized, then the marginal revenue equals the marginal cost.) 100 x units

If C(x) = 15,000 + 400x - 2.8x² +0.004x³ is the cost function and p(x) = 4,000 - 7x is the demand function, find the production level (in units) that will maximize profit. (Hint: If the profit is maximized, then the marginal revenue equals the marginal cost.) 100 x units

College Algebra
College Algebra
1st Edition
ISBN:9781938168383
Author:Jay Abramson
Publisher:Jay Abramson
Chapter3: Functions
Section3.2: Domain And Range
Problem 61SE: The cost in dollars of making x items is given by the function Cx)=10x+500. a. The fixed cost is...
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If C(x) = 15,000 + 400x - 2.8x² + 0.004x³ is the cost function and p(x) = 4,000 - 7x is the demand function, find the production level (in units) that will maximize profit. (Hint: If the profit is maximized, then the marginal revenue equals the marginal cost.) 100 X units
Transcribed Image Text:If C(x) = 15,000 + 400x - 2.8x² + 0.004x³ is the cost function and p(x) = 4,000 - 7x is the demand function, find the production level (in units) that will maximize profit. (Hint: If the profit is maximized, then the marginal revenue equals the marginal cost.) 100 X units
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