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The cost (in thousands of dollars) of producing x thousand units of Acrosonic loudspeaker systems is: TC = 12X^2 + 50X + 3. Price p
The cost (in thousands of dollars) of producing x thousand units of Acrosonic loudspeaker systems is: TC = 12X^2 + 50X + 3. Price p (in $ per unit) and quantity demanded x (in thousand units), which are both required to be non-negative, are related as: p = 170 - 3x .
(a) Find the marginal cost (MC) function.
(b) Find marginal revenue (MR) as a function of output.
(c) Find the profit as a function of output.
(d) What quantity maximizes profit, and how much is that profit?
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