1. [-/2 Points] HARMATHAP12 2.2.031. The monthly profit from the sale of a product is given by P = 18x - 0.1x^2 - 200 dollars. (a) What level of production maximizes profit? units (b) What is the maximum possible profit? $ 2. [-/3 Points] HARMATHAP12 2.3.009.EP. Suppose that in a monopoly market, the demand function for a product is p = 120 - 0.50x and the revenue function is R = px, where x is the number of units sold and p is the price per unit (in dollars). Form the revenue function R(x). R(x) = Find the number of units that must be sold to maximize revenue. x = Find the price of the product (in dollars) that will maximize revenue. $
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To do this, we can take the derivative of the profit function with respect to x and set it equal to zero. P = 18x - 0.12x^2 - 200 Show more…
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