Given cost and price (demand) functions C(q)=110q+45,000 and p(q)=−1.8q+900, What price should be set to maximum profit? It should be $enter your response here per item. (Round answer to nearest cent.)

Given cost and price (demand) functions C(q)=110q+45,000 and p(q)=−1.8q+900, What price should be set to maximum profit? It should be $enter your response here per item. (Round answer to 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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Question

Given cost and price (demand) functions

C(q)=110q+45,000

and

p(q)=−1.8q+900,

What price should be set to maximum profit?

It should be

$enter your response here

per item.

(Round answer to nearest cent.)

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