Some years ago, it was estimated that the demand for steel approximately satisfied the equation p =
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Some years ago, it was estimated that the demand for steel approximately satisfied the equation p = 256 - 50x, and the total cost of producing x units of steel was C(x) = 182 + 56x. (The quantity x was measured in millions of tons and the price and total cost were measured in millions of dollars.) Determine the level of production and the corresponding price that maximize the profits.
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Calculus And Its Applications
ISBN: 9780134437774
14th Edition
Authors: Larry Goldstein, David Lay, David Schneider, Nakhle Asmar
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