Maximum profit- refer to problem if the gps devices cost, Ask an Expert

Management Studies

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?

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Business Management, Management Studies

Category:- Business Management
Reference No.:- M92023735

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