Maximum profit:-
Refer to Problem. If the GPS devices cost the store $220 each, find the price (to the nearest cent) that maximizes the profit. What is the maximum profit (to the nearest dollar)?
Problem
The price demand equation for a GPS device is
p(x) = 1,000e-0.02x
where x is the monthly demand and p is the price in dollars. Find the production level and price per unit that produce the maximum revenue. What is the maximum revenue?