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Step 4 We have determined that x = 73 will maximize the profit function. The demand function outputs the price per item associated with the
Step 4 We have determined that x = 73 will maximize the profit function. The demand function outputs the price per item associated with the number of units sold. The demand function for this problem was p = 103 - 0.5x, so the price per unit associated with a maximum profit is given by p(73) as follows. p = 103 - 0.5x p(73) = 103 - 0.5 73 X To conclude, state the price (in dollars) per unit. S * per unit Submit Skip (you cannot come back)(a) What price yields a maximum prot? Recall that prot is given by the function PEX) = xp C, where p is a demand function, C is a total cost function, and x is the total number of units sold. We are given the demand function p = 103 0.5.x and the total cost function C = 30x + 32.?5. Thus, we can state the profit function we need to maximize below
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