Homework Answers
Answer:
Given
Demand function
x=(500-P)
x=500-x
P=500-x
TR=x*P=x*(500-x)=500x-x^2
TC=2x
So profit=TR-TC=500x-x^2-2x
profit =498x-x^2
For maximum profit
dProfit/dx=0
498-2x=0
x=249 units
P=500-x=500-249=251
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Show work please
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