If the cost function is C(x) = 5x +810 and the demand function is p(x) = -0.6x + 39 for x unit of product per day, find the value of x for which the Profit is maximized. Note: Revenue, R(x) = px and Profit, P(x) = R(x) - C(x)
Added by Emily C.
Step 1
First, we need to find the revenue function, R(x), which is the product of the price and the quantity sold. Using the demand function, we have: R(x) = p(x) * x = (-0.6x + 39) * x = -0.6x^2 + 39x Show more…
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