Concept explainers
Maximizing profit. Riverside Appliances is marketing a new refrigerator. It determines that in order to sell x refrigerators, the price per refrigerator must be
It also determines that the total cost of producing x refrigerators is given by
a. Find the total revenue,
b. Find the total profit,
c. How many refrigerators must the company produce and sell in order to maximize profit?
d. What is the maximum profit?
e. What price per refrigerator must be charged in order to maximize profit?
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