Question: Suppose that in a monopolistic market, the demand function for a commodity is where x is the number of units and p is in dollars.

Suppose that in a monopolistic market, the demand function for a commodity is

x? 3 р%3D 7000 — 10х 3.

where x is the number of units and p is in dollars. If a company's average cost function for this commodity is

C(x) = 40,000 + 600 + 8x

find the maximum profit.

x? 3 %3D 7000 10 3. C(x) = 40,000 + 600 + 8x

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