Business products are group of answer choices purchased for personal consumption. chosen on the basis of preferences expressed by a business procurement department. purchased for both their functional aspects and their psychological rewards. classified according to their characteristics and intended uses. not purchased by nonbusiness organizations.

Some years ago it was estimated that the demand for steel approximately satisfied the equation p=194-25x x, and the total cost of producing x units of steel was upper c left parenthesis x right parenthesis equals 145 plus 40 x. (the quantity x was measured in millions of tons and the price and total cost were measured in millions of dollars.) determine the level of production and the corresponding price that maximize the profits.