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The cost of producing x units of a certain commodity is C(x) = 1x² + 5x+8 dollars. If the price is p(x) = (47 − x) dollars per unit, determine the level of production that maximizes profit. O x = 2, so therefore 2 units

The cost of producing x units of a certain commodity is C(x) = 1x² + 5x+8 dollars. If the price is p(x) = (47 − x) dollars per unit, determine the level of production that maximizes profit. O x = 2, so therefore 2 units

Advanced Engineering Mathematics
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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The cost of producing x units of a certain commodity is C(x) = 1x² + 5x+8 dollars. If the price is p(x) = (47 - x) dollars per unit, determine the level of production that maximizes profit. O x = 2, so therefore 2 units O x = 10.5 so therefore 11 units O x = 6.3 so therefore 6 units O x = 4 so therefore 4 units
Transcribed Image Text:The cost of producing x units of a certain commodity is C(x) = 1x² + 5x+8 dollars. If the price is p(x) = (47 - x) dollars per unit, determine the level of production that maximizes profit. O x = 2, so therefore 2 units O x = 10.5 so therefore 11 units O x = 6.3 so therefore 6 units O x = 4 so therefore 4 units
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