Determining the level of production
Problem: It costs Dan's company C(x) = x^2 - 3x + 64 dollars to produce x items. The selling price (p) when x hundred units are produced is p(x) = (44 - x)/4. Determine the level of production (# of items produced) that maximizes profit.
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There are certain big questions that philosophers have been puzzling over for centuries. Amazingly, many people ask these same questions in daily life. Reflect on these questions as related to each of the 6 branches of philosophy below.
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It costs Dan's company C(x) = x^2 - 3x + 64 dollars to produce x items. The selling price (p) when x hundred units are produced is p(x) = (44 - x)/4. Determine the level of production (# of items produced) that maximizes profit.
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The Demand Function for a product can be as Q=400-2P. We would have a fixed cost for this product as 200 and our variable costs are 0.5 per unit. Please let me know the equation for the profit.
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