The monthly demand function for a product sold by a monopoly is p = 2,140 - (1/3)x^2. The average cost is C = 1,000 + 8x + x^2 dollars. Production is limited to 1,000 units, and x is in hundreds of units. Find the revenue function, R(x).
R(x) =
Find the cost function, C(x).
C(x) =
Find the profit function, P(x).
P(x) =
(a) Find P'(x).
P'(x) =
Considering the limitations of production, find the quantity (in hundreds of units) that will give the maximum profit.
hundred units
(b) Find the maximum profit. (Round your answer to the nearest cent.)