The monthly demand function for x units of a product sold by a monopoly is p = 6,100- Find the revenue function, R(x), in dollars. R(x) = Find the cost function, C(x), in dollars. C(x) = Find the profit function, P(x), in dollars. P(x) = Find P'(x). P'(x) = Find the number of units that maximizes profits. (Round your answer to the nearest whole number.) units Find the maximum profit. (Round your answer to the nearest cent.) $ Does the maximum profit result in a profit or loss? O profit dollars, and its average cost is C = 3,040 + 2x dollars. Production is limited to 100 units. loss

The monthly demand function for x units of a product sold by a monopoly is p = 6,100- Find the revenue function, R(x), in dollars. R(x) = Find the cost function, C(x), in dollars. C(x) = Find the profit function, P(x), in dollars. P(x) = Find P'(x). P'(x) = Find the number of units that maximizes profits. (Round your answer to the nearest whole number.) units Find the maximum profit. (Round your answer to the nearest cent.) $ Does the maximum profit result in a profit or loss? O profit dollars, and its average cost is C = 3,040 + 2x dollars. Production is limited to 100 units. loss

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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