SOLUTION: 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
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Question 1204775: 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 = 80 − 0.1sqrtx C = 35x + 600
Answer by MathLover1(20849) (Show Source): You can put this solution on YOUR website!
Demand Function
Cost Function
To find the price that will maximize profit, using demand and cost functions, first step is to find the profit function . Then, use the first derivative to find the critical points for the profit function. Finally use the critical points to find the price to maximize profit.
Profit Function:
...revenue
Then find first derivate and set equal to zero:
The maximum profit is '.
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