The weekly demand function for x units of a product sold by only one firm is p =
ID: 2866293 • Letter: T
Question
The weekly demand function for x units of a product sold by only one firm is p = 300 - 1/2x dollars, and the average cost of production and sale is bar c = 100 + 2x dollars. Find the quantity that will maximize profit. Find the selling price of this optional quantity. Find the maximum profit? The monthly demand function for a product sold by a monopoly is p = 3420 - 1/3x^2 dollars, and the average cost is bar c = 900 + 20x + 3x^2 dollars. Production is limited to 1000 units and x is in hundreds of units. Find the quantity that will give maximum profit. Find the maximum profit? (Round your answer to the nearest cent.)Explanation / Answer
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