SOLUTION: An Office Supply company sells x permanent markers per year @ $ p per marker.
The price demand equation for these markers is: P = 10-0.0001x
The total annual cost of manufact
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Question 1035400: An Office Supply company sells x permanent markers per year @ $ p per marker.
The price demand equation for these markers is: P = 10-0.0001x
The total annual cost of manufacturing X permanent markers for the office supply company is: C(x) = 5000 + 2x
What is the company's maximum profit?
What should the company charge for each permanent marker?
How many markers should the company produce?
Answer by robertb(5830) (Show Source): You can put this solution on YOUR website!
The total revenues would be
==> Total profits would be
To maximize profits, the company should produce = 40,000 markers.
The company should charge 10 - 0.0001*40,000 = $6 for each marker.
The company's maximum profit is = $155,000.
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