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If C(x style=”color:rgb(0,0,0);”>) = 12000 + 500x − 2.2×2 + 0.004×3 is the cost function and p(x) = 2900 − 7x is the demand function, find the production level that will maximize profit. (Hint: If the profit is maximized, then the marginal revenue equals the marginal cost.)

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If C(x

style=”color:rgb(0,0,0);”>) = 12000 + 500x − 2.2x2 + 0.004x3

 is the cost function and p(x) = 2900 − 7x

 is the demand function, find the production level that will maximize profit. (Hint: If the profit is maximized, then the marginal revenue equals the marginal cost.)

 
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