Question: 1. You have determined that the demand equation for a particular item is given by: Q(x) = 100 0.01x with the cost function given

1. You have determined that the demand equation for a particular item is given by:

Q(x) = 100 − 0.01x with the cost function given by:

C(x) = 50x + 10,000 where x is the number of items sold. Calculate the value of x that will maximise the profit and determine the corresponding total profit.

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