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Q2. The demand function for a new product is p(x) = -5x + 21, where x represents the number of items in thousands and p
Posted: Wed Jul 06, 2022 11:57 am
by answerhappygod
- Q2 The Demand Function For A New Product Is P X 5x 21 Where X Represents The Number Of Items In Thousands And P 1 (23.23 KiB) Viewed 17 times
Q2. The demand function for a new product is p(x) = -5x + 21, where x represents the number of items in thousands and p represents the price in dollars. The cost function is C(x) = 4x + 14. a) State the corresponding revenue function. b) Determine the corresponding profit function. c) Complete the square to determine the value of x that will maximize profits. d) Find the break-even quantities. e) Sketch the graph of the profit function.