The price/demand function of a company is p=36-0.001D and the cost function is 20D+1000. Determine the following: 1. The optimal demand = Blank 1 units 2. The optimal value = $Blank 2 3. The demand that will give the highest revenue = Blank 3 units

The price/demand function of a company is p=36-0.001D and the cost function is 20D+1000. Determine the following: 1. The optimal demand = Blank 1 units 2. The optimal value = $Blank 2 3. The demand that will give the highest revenue = Blank 3 units

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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