A large company in the communication and publishing industry has quantified the relationship between the price of oneof its products and the demand for this product as Price = 160 -0.02 × Demand for an annual printing of this particularproduct. The fixed costs per year (i.e., per printing) = $51,000 and the variable cost per unit = $35. What is themaximum profit that can be achieved? What is the unit price at this point of optimal demand? Demand is not expectedto be more than 4,000 units per year.The maximum profit that can be achieved is $144,313. (Round to the nearest dollar.)The unit price at the point of optimal demand is $ per unit. (Round to the nearest cent.)

The Profit Function: In business, the profit function is a function using for to predict or compute…

costs per year (i.e., per printing) = $51,000 and the variable cost per unit = $35. What is th It can be achieved? What is the unit price at this point of optimal demand? Demand is no 000 units per year. it that can be achieved is $144,313. (Round to the nearest dollar.) e point of optimal demand is $ per unit. (Round to the nearest cent.)

costs per year (i.e., per printing) = $51,000 and the variable cost per unit = $35. What is th It can be achieved? What is the unit price at this point of optimal demand? Demand is no 000 units per year. it that can be achieved is $144,313. (Round to the nearest dollar.) e point of optimal demand is $ per unit. (Round to the nearest cent.)

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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