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The Ironhill Brewery produces beer. The annual fixed cost is $150, and the variable cost per barrel is $16. Price is related to demand, according
The Ironhill Brewery produces beer. The annual fixed cost is $150, and the variable cost per barrel is $16. Price is related to demand, according to the following demand equation:
v= 7500 - 53.8p
Develop the nonlinear profit function for the brewery and determine the price that will maximize profit and volume.
- Price:
- Volume:
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