Business, 20.02.2020 07:28 moncera

A firm is planning to manufacture a new product. As the selling price is increased, the quantity that can be sold decreases. Numerically they estimate

P = $35.00 - 0.02Q

(P = selling price per unit, Q = quantity sold per year)

On the other hand, management estimates that the average cost of manufacturing and selling the product will decrease as the quantity sold increases

C = $4.00Q + $8000

where C = cost to produce and sell Q per year

The want to maximize profit. What quantity should the decision makers plan to produce and sell each year?

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A firm is planning to manufacture a new product. As the selling price is increased, the quantity tha...

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