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Suppose that when the price of a certain commodity is p dollars per unit, then x hundred units is C(x) = 0.02x^2 +3x +574.77 hundred
Suppose that when the price of a certain commodity is p dollars per unit, then x hundred units is C(x) = 0.02x^2 +3x +574.77 hundred dollars
a. Express the profit P obtained from the sale of x hundred units as a function of x. Sketch the graph of the profit function
b. Find the average profit AP when the price is $37 per unit
c. Use the profit curve found in part (a) to determine the level of production x that results in maximum profit. What unit price p corresponds to maximum profit
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