The monthly demand function for x units of a product sold by a monopoly is p=8000-x dollars,
Question:
(a) Determine the quantity that will maximize profit.
(b) Determine the selling price at the optimal quantity.
(c) Determine the maximum profit.
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Cx Cx 4000x 5x 2 Rx px 8000x x 2 Px Rx Cx 6x 2 4000x a Px 12x4000 Px 0 ...View the full answer
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Related Book For 
Mathematical Applications for the Management Life and Social Sciences
ISBN: 978-1305108042
11th edition
Authors: Ronald J. Harshbarger, James J. Reynolds
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