MATHEMATICS · Subjective · AP · Calculus AB · Analytical Applications of Differentiation · Analytical Applications of Differentiation
Problem
For a certain product, the price–demand relationship is p(q)=50−0.5q, where p is the selling price in dollars when q units are sold. The total cost of producing q units is C(q)=10q+200. Determine the selling price that maximizes the firm’s profit.