fhart333 fhart333

16-01-2023
Mathematics

Answered

A company estimates that the demand for its product fluctuates with the price it charges. The demand function is q = 450,000 – 400p where q equals the number of units demanded and p equals the price in naira. The total cost of producing q units of the product is estimated by the function C = 400,000 + 200p + 0.0005q²? (a) Determine how many units q should be produçed in order to maximize annual profit. (b) What price should be charged? (c) What is the annual profit expected to equal?

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