Question
Manufacturer estimates that when x units of a particular commodity are produced each month, the total cost (in $) will be: C(x)= -1/8x^2+4x+200 and all
Manufacturer estimates that when x units of a particular commodity are produced each month, the total cost (in $) will be: C(x)= -1/8x^2+4x+200 and all units can be sold at [roce of P(x)= 49-x dollars per unit. Determine the price that corresponds to the maximum profit.
Formulas available to use
Total revenue or R(x)= xp
p is price
x is amount of units
P(x)= R(x)-C(x)
profit or less generate dby producing and seeling x units
C(x) = cost of producing x units
R( x)= revenue generated by selling x units
Im not sure which formulas would be useful in this situation/how to find the price for max profit
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