The demand equation for a product is given by p + 2x² = 2800 where p is the price in dollars and x is the demand. The cost per item is $100. Find the PRICE which maximizes the profit. A. 300 B. 1900 C. 3400 D. 900 E. 1350
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Step 1
First, we need to find the revenue equation, which is the product of price and demand: Revenue = P * X We can rearrange the demand equation to solve for X: X = (2800 - P)/2 Substituting this into the revenue equation, we get: Revenue = P * (2800 - Show more…
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