10.3 Question #8

The monthly demand function for a product sold by a monopoly is p = 1,952 xz dollars, and the average cost is E = 1,000 + 6X + X2 dollars. Production is limited to 1,000 units, and x is in hundreds of units. Find the revenue function, R(X). R(x) = Find the cost function, C(X). C(x) = Find the profit function, P(X). P(x) = (a) Find P'(X). P'(X) = Considering the limitations of production, nd the quantity (in hundreds of units) that will give the maximum prot. hundred units (b) Find the maximum prot. (Round your answer to the nearest cent.) $