Question: A commodity has a demand function modeled by p =1120.5 x and a total cost function modeled by C =40 x +33.75, where x is

A commodity has a demand function modeled byp=1120.5x and a total cost function modeled byC=40x+33.75, wherexis the number of units.

(a) What unit price (in dollars) yields a maximum profit?

(b) When the profit is maximized, what is the average cost (in dollars) per unit? (Round your answer to two decimal places.)

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