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A 96 command option 2) Assume that the cost equation in dollars of producing x units of a product is given by the equation C
A 96 command option 2) Assume that the cost equation in dollars of producing x units of a product is given by the equation C (x)=2500+10x and that the monthly demand equation for the product is given by the equation X p = 30 - 1000 where x is the number of units demanded per month when the price charged is p dollars. Use the above information to compute the monthly revenue equation for the product. Then find the monthly profit equation for the above product and use it to compute the monthly marginal profit function for this product. Finally use this to determine the profit and marginal profit associated with a monthly production level of 8000 units. All work must be shown! (16 points) RX=P (X ) X D ( ) = R (x) - (US)
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